Uninsurable perils Definition And Meaning
Losses arising out of war or a warlike action or rebellion and nuclear risks are generally excluded by all insurance because these losses are unpredictable and are often catastrophic in nature.
Similarly insurance companies also exclude normal wear and tear, gradual deterioration, and damages due to insects etc, because these are inevitable, non-accidental and are normal losses.
Losses arising out of war or a warlike action or rebellion and nuclear risks are generally excluded by all insurance because these losses are unpredictable and are often catastrophic in nature.
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Similarly insurance companies also exclude normal wear and tear, gradual deterioration, and damages due to insects etc, because these are inevitable, non-accidental and are normal losses.
Insurance Law And Practice - ICSI
Uninsurable perils Definition And Meaning
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