Riot And Civil Commotion Insurance
Definition of "Riot and civil commotion insurance"
Coverage for damage to property resulting from riot or civil commotion. Riot is defined by most state laws as a violent disturbance involving three or more (in some states two or more) persons. Civil commotion is a more serious and prolonged disturbance or violent uprising. Losses from riots in major cities during the 1960s caused insurers to stop writing this type of coverage in certain urban areas. In response, Congress enacted legislation creating the FEDERAL CRIME INSURANCE program and providing riot reinsurance in states that established acceptable pooling plans.
Popular Insurance Terms
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 ...
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Cooperative organization among insurers that rates and prepares new policy forms according to guidelines and regulations of the state insurance department. Loss experience, collected ...
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Workers' premiums in a contributory employee benefit plan. ...
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