Nationalization

{
  "id": "MLC-T-INS-002280",
  "term": "Nationalization",
  "field": "Insurance and risk management",
  "definition": "The process by which a government takes control of private assets, industries, or services, converting them into public ownership. This action can occur with or without compensation to the former owners, depending on the legal framework and political circumstances. Nationalization can expose insurers to political risk, particularly for policies covering foreign direct investments.",
  "url": "https://mlchart.com/terminology/insurance/nationalization/"
}