Expropriation

{
  "id": "MLC-T-INS-003646",
  "term": "Expropriation",
  "field": "Insurance and risk management",
  "definition": "The act of a host government seizing private property, such as a company's foreign assets or operations, for a public purpose. This action is a primary risk covered under political risk insurance policies, which compensate the owner for the value of the seized assets. International law requires that expropriation be non-discriminatory and accompanied by prompt, adequate, and effective compensation, though this standard is not always met.",
  "url": "https://mlchart.com/terminology/insurance/expropriation/"
}