Insurable risk definition
Insurable risk means, with respect to asset-backed securities, as defined in Subsection (D) of this section, that such obligation on an uninsured basis has been determined to be not less than investment grade based solely on the pool of assets backing the insured obligation or securing the insurer, without consideration of the creditworthiness of the issuer.
Insurable risk means, with respect to asset-backed securities, that such obligation on an uninsured
Insurable risk means that the obligation on an uninsured basis has been determined to be not less than investment grade. With respect to asset-backed securities as defined in subdivision (c), the determination shall be, based solely on the pool of assets backing the insured obligation or securing the financial guaranty insurance corporation, without consideration of the creditworthiness of the issuer.
More Definitions of Insurable risk
Insurable risk means, with respect to asset-backed securities, as defined in subsection (e) of this section, that such obligation on an uninsured basis has been determined to be not less than investment grade based solely on the pool of assets backing
Insurable risk means, with respect to asset-backed securities, that such obligation
Insurable risk means the risk of any loss, damage or liability against which it is customary to insure, including the risk of damage to property, personal injuries, liability for acts or omissions, losses associated with travel, and losses associated with the maintenance or investment of funds. It includes the risk of events, losses or liabilities occurring or arising outside of New Zealand.