Deprivation

Term · Insurance and risk management · MLC-T-INS-001135

The actual or constructive withholding of property from a person who has a legal right to it, forming a basis for a property insurance claim. In the context of theft or mysterious disappearance claims, the policyholder must demonstrate a deprivation of the property, meaning they no longer have possession or control of it. For a claim to be paid, this deprivation must result from a peril covered under the policy, such as theft, and not from the policyholder simply misplacing the item.

Table 1. Record
Identifier	MLC-T-INS-001135
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001135",
  "term": "Deprivation",
  "field": "Insurance and risk management",
  "definition": "The actual or constructive withholding of property from a person who has a legal right to it, forming a basis for a property insurance claim. In the context of theft or mysterious disappearance claims, the policyholder must demonstrate a deprivation of the property, meaning they no longer have possession or control of it. For a claim to be paid, this deprivation must result from a peril covered under the policy, such as theft, and not from the policyholder simply misplacing the item.",
  "url": "https://mlchart.com/terminology/insurance/deprivation/"
}

Record 965 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.