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The organizers of the world's biggest sporting events take out contingency insurance, which pays out if an event is interrupted, postponed, or cancelled.
Financial and business terms. 2012.
contingency insurance — An insurance policy covering financial losses occurring as a result of a specified event happening. The risks covered by policies of this kind are various and often unusual, such as a missing documents indemnity, the birth of twins, or pluvial… … Big dictionary of business and management
insurance — Guarding against property loss or damage making payments in the form of premiums to an insurance company, which pays an agreed upon sum to the insured in the event of loss. Bloomberg Financial Dictionary * * * insurance in‧sur‧ance [ɪnˈʆʊərəns ǁ… … Financial and business terms
contingency fee — see fee 2 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. contingency fee n … Law dictionary
insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or … Law dictionary
Contingency market — Contingency markets are markets where contracts are made to exchange funds contingent upon an event or combination of events or contingencies thereof. Difference from prediction markets Prediction markets are a subset of contingency markets and… … Wikipedia
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — n. 1 the act or an instance of insuring. 2 a a sum paid for this; a premium. b a sum paid out as compensation for theft, damage, loss, etc. 3 = insurance policy. 4 a measure taken to provide for a possible contingency (take an umbrella as… … Useful english dictionary
insurance — A contract whereby one undertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event. Meyer v Building & Realty Service Co. 209 Ind 125, 196 NE 250, 100 ALR 1442. An agreement by which one person… … Ballentine's law dictionary
insurance — I. noun Date: 1651 1. a. the business of insuring persons or property b. coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril c. the sum for which something is… … New Collegiate Dictionary
