Risk is pure
According to the nature of the case, the risk may actually arise as incidental or accidental and can arise due to a speculative act. Pure risk is the risk that spontaneous, not contrived, accidental, or even sought can not be avoided in the short term. People at risk of trading losses, but the risk of loss can be avoided with good management, shopping carefully, and so on. The risk of loss due to a trading business is a speculative risk can not be insured. Therefore there is no insurance that offers the coverage if a loss-making company. The risks arising from an intentional act, because they want to get compensation insurance, for example, can not be insured. Example, a person has insurance death by one billion dollars, can be killed by his heirs to obtain benefits / insurance is one billion dollars. Deaths caused by intentional as it can not be borne. Someone who deliberately attempted suicide by drinking poison insects and failed so need treatment in hospital care is not entitled to bail, because the risk of illness is not a pure risk. Examples of pure risk is cancer. Cancer pain, which requires long and expensive treatment, was never expected by the patient and therefore cancer is a pure risk can be insured or guaranteed by the insurance.Risks to be definitive
Understanding definitive means of risk can be determined exactly what happened and clear and understood by the evidence it happened. The risk of illness and death evidenced by a medical certificate. The risk of traffic accidents is evidenced by a letter to police. Fire risk is evidenced by the minutes and other evidence such as photos of events.
Risk is static
This is in contrast to the dynamic nature of business risks due to highly influenced political and economic stability. Of course, the risk is completely static in the long term not much. The risk of a person developing cancer or heart failure will be relatively static, not influenced by political and economic circumstances, but in the long-term risk of heart attack affected the state of the economy. In developed countries, the relatively rich and the population tends to consume a good meal with a high fat content, showed a higher probability of heart attack compared to poor countries.
The risk of financial impact
Each risk has a financial and non- financial impacts. Insurable risk is the risk that have a financial impact, because that can be taken into account is the financial loss. Risk transfer is done by paying a premium or contribution to the insurance company, which will provide a replacement if there is a risk that the financial impact has occurred. A personal accident for example have a financial impact and costs prawatan or lose the opportunity to earn an income. In addition to the financial impact, the accident also cause pain and psychological burden if such accidents cause death or disability, so that the risk of a large impact. Of all the impacts that happen, just financial risks in the form of cost of care and loss of income due to loss of life or disability. The impact of pain and feelings of loss can not be insured because of its size is very subjective. The benefits that can be offered insurance to replace the financial impact is the replacement cost of treatment and care (both in terms of money or services) or cash in lieu of loss of income due to the death or disability.
Measurable or quantifiable risk
Another requirement is the amount of financial loss due to such risks can be calculated accurately. If an illness, should be explained the occurrence of disease location, time of occurrence, type of disease, the treatment (the name and location of the hospital), and costs required for treatment undertaken.
The pain is very difficult to measure, although we have a variety of instruments, because the pain is very subjective. Great care reimbursement must be approved by the policyholder and asuradur as outlined in the contract of insurance / warranty / policy. Special for life insurance, major financial loss due to death are generally offered in a certain amount, given the difficulty of measuring large financial loss due to a death. The amount offered by the insurance company and agreed upon by the policyholder. The determination of the specific amount referred quantifiable (can be set in number) are used as the basis for calculating the premium to be paid by the policyholder.
The size should be large risk
An insurance system should be carefully assessing risk groups to be insured. The tendency in the world of health insurance is to guarantee comprehensive health care because there is a link between the risk for a small fee and require expensive services. For example, cases of dengue fever were visiting the doctor, carries the risk of subsequent fatal if treatment is not covered, because it is likely the person is to continue its services due to cost constraints. So ensure comprehensive health care is a combination of reduced risk and transfer risk. An insurance scheme that only a small risk, such as only treatment in health centers as first practiced with a healthy fund schemes are not eligible insurers. Therefore, wherever in the world, a model of micro-insurance as it does not have the long-term sustainability. Such schemes are generally short-lived and not to be great.
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