1. the quality of being uninsurable; the conditions under which an insurance company will refuse to issue insurance to an applicant (based on standards set by the insurance company);
WordNet (r) 3.0 (2006):
uninsurability
n 1: the quality of being uninsurable; the conditions under
which an insurance company will refuse to issue insurance
to an applicant (based on standards set by the insurance
company) [ant: insurability]