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Definitions
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Dictionary > Definitions > Economy > Insurance natural disasters
Insurance natural disasters
Definition
In the field of the insurances, the natural disasters are certain natural events, such as cyclones, floods, earth tremors or all unforeseeable events which cover by their importance or their extent a catastrophic risk.
Description
So that the contract of insurance functions and that the guarantee is granted within the framework of these events, it is necessary that the state of natural disasters is noted by an interministerial decree published in the Official Journal.
Author
Anwar Hossain
Author Email
anwtele@yahoo.com
References
Definitions to be consulted