Which of the following can be insured against in an insurance policy?

In the context of insurance, the purpose is to protect against potential financial losses that arise from unforeseen events. The correct choice identifies a type of risk that is insurable.

Disability and accidental death represent two valid risks that insurance policies are designed to cover. They involve the potential for significant financial impact due to loss of income or the need for medical expenses, and thus can usually be insured against under health or life insurance policies.

Wagering losses, on the other hand, are associated with bets or gambling activities. These losses are not insurable because they relate to speculative risks rather than fundamental financial exposures. Insurance products are designed to mitigate risks that could lead to actual financial hardship, whereas wagering is a voluntary action with an inherent risk of loss. It is essential in insurance that the event covered is unpredictable and not under the control of the insured, and wagering is precisely the opposite, as it is a conscious choice to take on risk.

Catastrophic losses, such as those caused by natural disasters, can be insured against. Insurers often provide specific policies designed to cover such significant risks. Thus, insuring against catastrophic losses is widely recognized in the insurance industry.

Overall, wagering losses stand apart as they do not align with the fundamental principles