Casualty

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Casualty

A serious or fatal accident. A person or thing injured, lost, or destroyed. A disastrous occurrence due to sudden, unexpected, or unusual cause. Accident; misfortune or mishap; that which comes by chance or without design. A loss from such an event or cause, as by fire, shipwreck, lightning, etc.

An inevitable casualty is one that occurs through no fault of anyone. It happens totally without design, as in the case of an accident resulting from an act of God, such as a house struck by lightning or flooded by a storm.

A casualty loss is a tax deduction that can be taken for an accident that is incurred in a trade or business, in a transaction entered into for profit, or for the complete or partial loss or destruction of property owned by the taxpayer. It arises from certain specific events such as a fire, an auto accident, or a flood. Casualty losses are computed subject to special rules and are treated as itemized deductions.

Many people purchase casualty insurance so that they will be protected or covered in the event of specific misfortune or accident. It is a type of insurance that covers losses resulting from injuries to people.

casualty

n. 1) an accident which could not have been foreseen or guarded against, such as a shipwreck caused by storm or fire caused by lightning. 2) the loss, as in life, from such an unavoidable accident. The courts remain inconsistent on the exact definition. (See: casualty loss)

References in periodicals archive ?
Wecter (1944), for example, urged readers to view the "war neurotic" as "a battle casualty just as truly as the man who lost a leg" (p.
Using Chairman of the Joint Chiefs of Staff Guide 3161, Battle Casualty Rate Patterns for Conventional Ground Forces, the casualty rate for the first period was 2 casualties per 1,000 soldiers per day.
The New Zealander, the first fatal battle casualty since the Feb.
Army personnel killed in action are classified as Battle Casualty (Fatal) .
The army declared him a " battle casualty" while performing his duty under Operation Rakshak- 3, as his body could not be found.
Many of them were performing the vital and challenging role of being Battle Casualty Replacements, replacing troops in a number of different units who had lost soldiers through death or injury.

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