MLchartDataset catalogue

Catastrophe (CAT)

Term · Insurance and risk management · MLC-T-INS-000707

A severe event that causes a large number of insurance claims and substantial financial losses, affecting a wide geographic area. A catastrophe (CAT) is characterized by its low frequency and high severity, with examples including hurricanes, earthquakes, and widespread flooding. Insurers and rating agencies define a catastrophe by a specific monetary loss threshold, such as an industry-wide insured loss of $25 million from a single event.

Table 1. Record
IdentifierMLC-T-INS-000707
FieldInsurance and risk management
SubjectBusinessowners Policy
AbbreviationCAT
Record as JSON 
{
  "id": "MLC-T-INS-000707",
  "term": "Catastrophe (CAT)",
  "field": "Insurance and risk management",
  "definition": "A severe event that causes a large number of insurance claims and substantial financial losses, affecting a wide geographic area. A catastrophe (CAT) is characterized by its low frequency and high severity, with examples including hurricanes, earthquakes, and widespread flooding. Insurers and rating agencies define a catastrophe by a specific monetary loss threshold, such as an industry-wide insured loss of $25 million from a single event.",
  "abbreviation": "CAT",
  "subject": "Businessowners Policy",
  "url": "https://mlchart.com/terminology/insurance/catastrophe-cat/"
}

Record 478 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.