Noninsurability

Part of speech: noun

Definitions

1. The quality or condition of being ineligible for insurance coverage due to risk factors or characteristics deemed unacceptable by insurers; the state of not qualifying for financial protection through insurance policies; the attribute of exclusion from insurability based on predetermined criteria
2. The state in which an individual, property, or risk cannot obtain insurance because it fails to meet underwriting standards; the characteristic of being barred from insurance protection due to potential losses; the classification of something as unsuitable for coverage in insurance contracts
3. A condition describing the inability to secure insurance coverage owing to high perceived risk or noncompliance with insurer requirements; the factor that prevents acceptance in insurance agreements; the designation of an entity as not insurable under standard insurance practices

Etymology: Noninsurability is a plain formation: the prefix "non-" attached to "insurability," which itself comes from "insure" plus the suffix "-ability." "Insure" traces back through Anglo-Norman and Old French to Medieval Latin "assecurare," meaning to make secure, a verb built from "se-" (without) and "cura" (care), so the idea of an insured thing is at root a thing made free from care. "Insurability" is the quality of being able to be insured, and adding "non-" reverses it to mean the state of being refused cover because the risk looks too high or too uncertain. The word is mainly used in the insurance trade, where it describes a person, property, or activity that no company will underwrite. Its parts are all transparent, so it needs little explanation beyond the sense of each piece.

Synonyms: uninsurability, riskiness, exclusion from insurance

Antonyms: insurability, coverability, insurance eligibility