Workers compensation catastrophe cover

{
  "id": "MLC-T-INS-003550",
  "term": "Workers compensation catastrophe cover",
  "field": "Insurance and risk management",
  "definition": "A specialized form of excess insurance designed to protect employers from extremely large losses arising from a single workers' compensation event involving multiple injured employees. This coverage is typically triggered when the total cost of a catastrophic incident, such as a factory explosion, exceeds a predetermined retention limit. It provides financial protection beyond standard workers' compensation limits.",
  "subject": "Excess Umbrella",
  "url": "https://mlchart.com/terminology/insurance/workers-compensation-catastrophe-cover/"
}