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It is perhaps easy to assume that with the wide range of insurance cover that is available to both individuals and businesses, you can find cover that protects you against any possible risk. This is however not the case and there will always be clear areas where no insurance policy will be available or appropriate.
The government will typically take on the risks related to war, including nuclear risks and damage. If our country found itself at war there would be an expectation that the government will support those affected.
Insurance will not cover you for your criminal actions. You cannot for example protect yourself against the extra costs incurred as a result of losing your driving licence through drink driving. Such a policy would be considered against the public interest.
Every business is vulnerable to seeing its reputation damaged as a result of negative publicity. Insurers will not cover the consequential losses if a business goes bust as a result of its tarnished name.
A good example of this is an excess, commonly applied to a policy that requires the policyholder to pay a set amount for each claim.
In addition any insurance policy will exclude those elements that are more appropriately covered under a different policy. Consequential loss resulting from material damage is a good example of such an exclusion.