Catastrophe 26


Catastrophe 26 : "The term "catastrophe" in the property insurance industry denotes a natural or man-made disaster that is unusually severe. An event is designated a catastrophe by the industry when claims are expected to reach a certain dollar threshold, currently set at $25 million, and more than a certain number of policyholders and insurance companies are affected". (III, Catastrophes: Insurance Issues (Update), Jan 2008)
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