the risk of loss or of adverse change in the value of insurance liabilities, due to inadequate pricing and provisioning assumptions, risk of loss borne by insurers and reinsurers. It can take the form of underestimated liabilities from unpaid business written in past years (i.e., applying to expired policies) or underpriced current business (i.e., unexpired policies)., the risk of loss borne by an underwriter, risk, et tegelik kindlustusrisk ei vasta hinnangule või prognoosile, nt on kasutatud sobimatut metoodikat või ilmnenud ettenägematud asjaolud vms