What is the Definition of Catastrophe Factor?

What is the Definition of Catastrophe Factor?

Probability of catastrophic loss, based on the total number of catastrophes in a state over a 40-year period.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Catastrophe Factor?

What is the Definition of Catastrophe Factor?

Check out other definition of insurance terms below:


What is the Meaning of EXCLUSIVE AGENT In Insurance Terms?

A captive agent, or a person who represents only one insurance company and is restricted by agreement from submitting business to any other company unless it is first rejected by the agent’s company. (See Captive agent)


What is the Meaning of EXCLUSIVE REMEDY In Insurance Terms?

Part of the social contract that forms the basis for workers compensation statutes under which employers are responsible for work-related injury and disease, regardless of whether it was the employee’s fault and in return the injured employee gives up the right to sue when the employer’s negligence causes the harm.


What is the Meaning of EXPENSE RATIO In Insurance Terms?

Percentage of each premium dollar that goes to insurers’ expenses including overhead, marketing and commissions.


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