Political Risk Insurance: Confiscation, Expropriation And Nationalization
Definition of "Political risk insurance: confiscation, expropriation and nationalization"
Insurance coverage that protects a company's and/or individual's assets against financial loss resulting from acts of confiscation, expropriation, or nationalization by a foreign government. Asset protected may be mobile or permanent and include: structures, inventory, bank accounts, prepaid supplies, receivables, vacation homes owned by individuals, and personal belongings of employees on overseas assignment. The coverage may be purchased on a single asset basis or several asset basis worldwide, subject to limits per country and an aggregate policy limit.
Popular Insurance Terms
Division of a sum of money between a deferred annuity and an immediate life annuity certain. ...
Coverage on an all risks basis for loss due to theft or mysterious disappearance of personal property; damage to premises and property within resulting from theft; and vandalism and ...
Confirmation by an insurance company of the acts of its agent, regardless of whether or not these acts were committed within the limit of authority granted the agent by the company. By so ...
Arrangement in health insurance to discourage multiple payment for the same claim under two or more policies. When two or more group health insurance plans cover the insured and dependents, ...
Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting expenses plus policy owner dividends. This income is generated from the insurance business ...
Endorsement to a property insurance policy providing all risks coverage for insured property. Excluded properties include residences, farms, and manufacturing properties. This endorsement ...
Same as term Dynamic: changing state of the economy associated with changes in human wants and desires such that losses or gains occur. Dynamic changes are not insurable. ...
Social insurance that provides benefits to temporarily disabled workers in a few states. Five states require employers to pay cash benefits if workers are disabled. They are Rhode Island, ...
Inquiry conducted by a committee of the legislature of the State of New York in 1905 that looked at abuses of life insurance companies operating in the state. This study led to stricter ...
Have a question or comment?
We're here to help.