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 ?
Key Applications/end-users of Global Property and Casualty InsuranceMarket: Individual & Business
Congress has provided special relief in the Disaster Tax Relief Act (5) for individuals with casualty losses from hurricanes Harvey, Irma, and Maria.
Also, increasing the number of rotations and decreasing doffing time allow downtime to be maximized, which decreases the possibility that a Soldier will become a heat casualty. Lastly, the Omaha MCD concept saves lives; it is a proven, tested, and more efficient way to decontaminate casualties should the mission require it.
Keywords: Casualty, Management, Mass, Mortality, Trauma.
In addition, novel data collection tools were developed for the capture, consolidation, and analysis of prehospital or Tactical Combat Casualty Care (TCCC).
The definition of a disaster casualty, for me, is one who died because of flood, landslide, storm surge, strong wind or mudflow, Daep said.
In contrast, Scotland's motorways appeared the safest, with a casualty rate of only just over 1.60 per mile.
Taxpayers suffering property damages from any of these disasters probably qualify for casualty loss deductions for federal income tax purposes.
Kenneth Hale, CEO of Cambridge Property & Casualty, said that as part of MMA his company would be able to preserve and further improve the individuality of its client-focused organisation.
But Wrexham, up 15%, and Carmarthenshire are the only areas where casualty numbers in 2012 are higher than both 2011 and 2010, suggesting the downward trend in casualties may have stalled.
ACE Group announced that it has made two promotions to its Casualty Insurance Business within its UK and Ireland region.
* Use the correct technique to avoid injuring the casualty.