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
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Diagram of cause and effect relationships, showing the possible outcomes if a particular course of action is taken or continued. This method of analysis, which is founded in the testing of ...
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Proportion of losses incurred to premiums earned. This ratio indicates the amount of a premium dollar that is being consumed by losses. ...
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