The occurrence of a catastrophic event (as storms, earthquakes, volcanic eruptions, cyclones, tidal waves, etc.) which is beyond any human control and which destroys assets. – See contingent loss, catastrophe bonds, risk fund, risk capital, uncertainty, insurance, weather derivative, tremor premium. – Cf. Monthly Report of the Deutsche Bundesbank of August 2014, pp. 23 et seq. (weather-related influences on the national product using the example of the United States; overviews; references).
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