Explanation Of Political Risk Insurance: Confiscation, Expropriation And Nationalization

Definition of "Political risk insurance: confiscation, expropriation and nationalization"

Rosemarie Averhoff, Real Estate Agent RE/MAX Metro Associates

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.