War Damage Insurance Corporation
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Definition of 'War Damage Insurance Corporation'
A government financial protection arm created during World War II to provide coverage for war risks that were not being covered by existing policies. The coverage was provided by the U.S. government and it compensated American nationals who owned property that was damaged by acts of war.
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Investopedia explains 'War Damage Insurance Corporation'
The War Damage Insurance Corporation was established by the War Damage Insurance Act in 1941. It provided for the U.S. government to cover private property war losses that were not fully covered by private insurers. Private insurers often offer limited or no coverage for acts of war because they cannot afford to cover a tremendous number of catastrophic losses in such a short period of time.
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Search results for 'War Damage Insurance Corporation'
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http://www.investopedia.com/articles/07/banking.asp
... deposit insurance and the Federal Deposit Insurance Corporation - FDIC ... The damage
had been done already, however, as ... When the First World War broke out, America ...
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http://www.investopedia.com/articles/economics/08/government-financial-bailout.asp
... that followed the end of World War II. ... specializing in banking, investments and
insurance, among other ... defended the sale, predicting devastating damage to the ...
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http://www.investopedia.com/university/credit-crisis/credit-crisis2.asp
... federal government formed the Resolution Trust Corporation (RTC) to ... and each factor
can multiply the damage caused by ... severe credit crisis since World War II. ...
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