What type of risk generally does not qualify for insurance coverage?

Speculative risk refers to situations where there is a chance of loss, gain, or no change, making these risks inherently unpredictable. Examples include investment in stocks, entrepreneurship, or gambling. Insurers typically do not cover speculative risks because they involve a possibility of profit, and insurance is designed to protect against losses rather than provide a means for potential gains.

On the other hand, pure risks, which involve only the potential for loss, are insurable. Natural risks may also be insurable under certain conditions, such as natural disasters. Business risks can be managed through various strategies but can sometimes be insured against, depending on the context. Therefore, speculative risk stands out as the type that generally does not qualify for coverage, as it contradicts the fundamental purpose of insurance, which is to mitigate the impact of uncertainties that only lead to a loss.