Which of the following types of risk is insurable?
A. O Operational
B. O Pure
C. O Physical
D. O Speculative

Pure risk is the type of risk that is insurable. This includes situations that can only result in a loss or no loss, such as natural disasters, accidents, or theft. Insurers are more inclined to cover these risks as they can be statistically estimated and managed, allowing them to provide fair premiums based on the likelihood of occurrence.

On the other hand, speculative risks involve the chance of gain or loss, such as investments in the stock market or starting a new business venture. Since speculative risks can result in both outcomes, they are typically not insurable, as insurers cannot modify the fundamental nature of these risks through risk pooling.