uninsurable risk

noun [C or U] INSURANCE

Definition

› a situation that you cannot protect yourself against by buying insurance because it is impossible to calculate how likely it is to happen, or how much damage it will cause: In many cases catastrophes, such as earthquakes, have become uninsurable risks.

› a situation for which an insurance company will not provide insurance, because, for example, it is certain to happen: A person suffering from a terminal illness is considered to be an uninsurable risk.

(Definition of uninsurable risk noun from the Cambridge Business English Dictionary © Cambridge University Press)