War Damage Insurance Corporation
Definition of "War damage insurance corporation"
Government reinsurance program that provided coverage for U.S. properties during World War II. Private insurers shared the first layer of coverage, with the government providing catastrophic loss coverage. This is one of several government insurance programs for exposures that private insurers cannot cover because techniques of spreading the risk do not apply.
Popular Insurance Terms
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Company owned by its policy owners; no stock is available for purchase on the stock exchanges. ...
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