The quality of being insurable; the conditions under which an insurance company will issue insurance to an applicant (based on standards set by the insurance company) WordNet 3.0 & Open English WordNet

Insurability can mean either whether a particular type of loss can be insured in theory, or whether a particular client is insurable for by a particular company because of particular circumstance and the quality assigned by an insurance provider pertaining to the risk that a given client would have. Wikipedia

Concept in insurance finance Wikidata

The quality of being insurable. Wiktionary