Force majeure insurance

{
  "id": "MLC-T-INS-001560",
  "term": "Force majeure insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage for financial losses resulting from events defined under a force majeure clause, which are unforeseeable circumstances beyond a party's control that prevent contract fulfillment. There is no single policy with this name; instead, the protection is provided through specific policies like business interruption, event cancellation, or contingent business interruption insurance. These policies cover specified perils such as natural disasters, wars, or government actions that may also qualify as force majeure events.",
  "url": "https://mlchart.com/terminology/insurance/force-majeure-insurance/"
}