Outrageously Funny Word Dictionary :: Nonassurance

👉 Non-assurance is a type of insurance policy that does not require an insurer to pay out if the insured's risk is deemed uninsurable. It refers to policies where there are no guarantees or assurances attached to the coverage, making it difficult for insurers to collect premiums and maintain profitability. In simpler terms, non-assurance policies allow insurers to charge higher rates for certain risks without having to guarantee them, thus potentially increasing their profit margins. This approach is often used in industries like agriculture, where

nonassurance