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________ is a catastrophic event that poses a large-scale risk to human life and property.
Legally Obligated
Binding under law or contract, requiring a party to act or refrain from acting in a specified manner.
Coinsurance Costs
Expenses that are not fully covered by insurance and must be shared between the insurer and the insured, typically as a percentage.
Increase Of Hazard
A scenario in insurance where the risk of loss becomes greater than what was contemplated at the time the policy was issued.
Highly-Explosive Chemicals
Substances that possess a high potential for explosion under certain conditions, posing significant risks.
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