Multiple trigger insurance contracts

{
  "id": "MLC-T-INS-002256",
  "term": "Multiple trigger insurance contracts",
  "field": "Insurance and risk management",
  "definition": "Insurance or reinsurance agreements where the payment of a claim is contingent upon the simultaneous or sequential occurrence of two or more distinct, predefined events. For a claim to be payable, all specified trigger conditions, which can be a mix of physical damage and financial market movements, must be met. An example is a policy that pays out only if a hurricane causes a specified amount of physical damage and a stock market index falls below a certain level within the same period.",
  "url": "https://mlchart.com/terminology/insurance/multiple-trigger-insurance-contracts/"
}