Specialty risks

{
  "id": "MLC-T-INS-003132",
  "term": "Specialty risks",
  "field": "Insurance and risk management",
  "definition": "Unique or complex exposures that fall outside the scope of standard property and casualty insurance policies, requiring specialized underwriting and custom policy forms. These risks, such as political risk, fine art, or kidnap and ransom, present unusual characteristics or a high potential for loss. Policies for specialty risks are manuscripted, meaning they are individually negotiated and drafted for a particular insured's needs rather than using pre-approved industry forms.",
  "url": "https://mlchart.com/terminology/insurance/specialty-risks/"
}