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
System of classifying face amount of policies according to size within a given range. The premium rate per $1,000 of face amount varies on a declining basis. As the face amount increases, ...
Standard State Valuation and Non forfeiture Law approved by the national association of insurance commissioners (naic) in 1942. This law is named for Alfred N. Guertin, the actuary who ...
Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
coverage issued to a creditor on the life of a debtor so that if the debtor becomes disabled, the insurance policy pays the balance of the debt to the creditor. ...
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Increases (decreases) in capital assets (such as stocks and bonds) between the date of purchase and the date of sale. ...
Reinsurance ceded to an insurance company that is a non admitted insurer. ...
Coverage on an all risks basis for glass breakage, subject to exclusions of war and fire. Thus, if a vandal throws a brick through a window of an insured's establishment, the coverage would ...
Amount, not in excess of $10,000 per year, given to each of an unlimited number of donees free of federal estate tax and gift tax. Each individual can give up to $10,000 to any one donee, ...
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