What Does Confiscation Expropriation Nationalization and Deprivation Insurance Mean?

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What does Confiscation Expropriation Nationalization and Deprivation Insurance mean? Read on to discover the definition & meaning of the term Confiscation Expropriation Nationalization and Deprivation Insurance - to help you better understand the language used in insurance policies.

Confiscation Expropriation Nationalization and Deprivation Insurance

Confiscation Expropriation Nationalization and Deprivation Insurance

Political risk coverage purchased by businesses that have an ownership interest in property abroad, to cover loss resulting from government nationalization of the property or other action by the government that effectively deprives the insured of the property or restricts its operations. Coverage may be structured to insure such current assets as bank accounts, intercompany or bank loans, accounts receivable, inventory, retained earnings, supplies, and work in progress. Deprivation coverage, which insures against the risk of a government action preventing use of the asset (such as denying a permit to run a plant), can be added to the basic CEN policy.

We hope the you have a better understanding of the meaning of Confiscation Expropriation Nationalization and Deprivation Insurance.

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