Glossary

A credit wrap is a form of financial guarantee insurance, covering not all debts of the borrower but a specific loan, debt issuance, or other financial transaction.

Creeping expropriation refers to measures designed to pressure a foreign investor to sell its investment to locals, often at less than its actual value. Methods for doing this include discriminatory taxation, elimination of previous tax benefits, requirements to hire locals and pay high wages, and restrictions on prices. For claims of creeping expropriation, it is critical to be able to establish the date a loss occurred or commenced.

In risk management, a crisis is any unplanned event or series of events that can cause death or injury to employees or the public or that can disrupt operations, cause physical or environmental damage, shut down the organization, or threaten the organization's financial standing or public image.

The crisis management approach is a process whereby the major incidents or accidents that can lead to a crisis for an organization are identified and extensive plans to mitigate the effects of such incidents should they occur are developed.

Crisis management coverage is an insuring agreement found within technology errors and omissions (E&O) and Internet/online property and liability insurance policies.

A crisis management plan outlines actions to be taken immediately before, during, and after a catastrophic event to preserve lives, safeguard property, and reduce the loss of resources essential to the organization's recovery.

The 1970 amendments to the Clean Air Act (CAA) required the Environmental Protection Agency (EPA) to set National Ambient Air Quality Standards (NAAQS) for certain pollutants known to be hazardous to human health, which are called criteria pollutants.

Critical illness insurance refers to a limited form of health insurance that pays a lump sum if the named insured is diagnosed as having one of the specific life-threatening conditions defined in the policy.

A critical recommendation is a loss control suggestion made by an insurer to its insured that is considered essential to avoid imminent loss of property or injury.

Criticism refers to a correction suggested by a rating bureau, which, if not complied with, can result in a fine.