MLchartDataset catalogue

Inherent vice

Term · Insurance and risk management · MLC-T-INS-001831

A quality or defect within an item itself that causes it to deteriorate, spoil, or destroy itself without any external cause. This characteristic makes the item susceptible to damage regardless of external handling or conditions. Insurance policies generally exclude losses caused by inherent vice, as it is not considered an accidental or fortuitous event.

Table 1. Record
IdentifierMLC-T-INS-001831
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-001831",
  "term": "Inherent vice",
  "field": "Insurance and risk management",
  "definition": "A quality or defect within an item itself that causes it to deteriorate, spoil, or destroy itself without any external cause. This characteristic makes the item susceptible to damage regardless of external handling or conditions. Insurance policies generally exclude losses caused by inherent vice, as it is not considered an accidental or fortuitous event.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/inherent-vice/"
}

Record 1,751 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.