The risk of a commercial company losing an important contract to a competitor is NOT generally insurable because the risk is:

The risk of a commercial company losing an important contract to a competitor is categorized as speculative because it involves a chance of gain or loss. Speculative risks are associated with uncertain outcomes where a business could either benefit from a favorable result (like winning a contract) or suffer a loss (like losing a contract). Insurance typically insures against pure risks, which involve only the potential for loss, such as fire or theft, without any chance of a gain.

Because losing a contract also means that the company may miss out on profits, it cannot be classified as purely a loss scenario, thus making it unsuitable for standard insurance coverage. In contrast, fundamental risks are widespread and affect large groups, while particular risks are specific to an individual entity. Pure risks involve scenarios where only losses are possible. Therefore, the nature of the risk in question, with its inherent potential for both profit and loss, distinctly places it in the realm of speculation, thereby supporting the correct answer.