Business, Legal & Accounting Glossary
An insurance policy that pays benefits only if two types of events occur. One of the triggers is usually a casualty event, such as a fire or a tornado, and the other is a financial event, such as an increase in the price of a commodity. For example, a dual trigger policy might pay benefits if a fire destroyed the warehouse of a shipping company and the price of diesel fuel went up by twenty percent.
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This glossary post was last updated: 20th November, 2021 | 0 Views.