Which of the following is an example of a situation that is not insurable?

An investment in the stock market is considered not insurable because it involves the risk of financial loss due to market fluctuations, which are not predictable events. Unlike events that create insurable risks—such as a fire, a health emergency, or policies like life insurance that address specific, identifiable risks—investment risks are inherent to the nature of stock trading and do not fit the criteria for insurable events. These criteria typically require that risks are accidental, measurable, and controllable to a certain extent, which is not the case with investments in the stock market. Such financial losses are viewed as a normal aspect of investment and market participation, rather than a random event.