UK: A very large risk that attracts the attention of brokers and insurers because of its size. It becomes widely offered in the market place. The term also describes a risk that is offered to many insurer because of its undesirable, hazardous features.
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In personal lines casualty insurance, a phrase that refers to celebrities and wealthy individuals. At one time, the Target Risk Exclusion Clause in reinsurance listed major bridges, tunnels, and art collections, but that clause has been replaced by the total insured value (TIV) exclusion clause.
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REINSURANCE: In property reinsurance, certain risks (for example, particular bridges, tunnels, fine arts collections, and property of similarly high value and exposure) that are expressly excluded from coverage under reinsurance treaties. Such risks may require individual acceptance under facultative contracts.
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The prospective policyholders, divided by race, age, sex, and other demographics.