Common Disaster

Common Disaster

A set of circumstances in which two individuals die apparently simultaneously.

In a common disaster there is no certainty of who died first, an important issue that frequently arises in the determination of the inheritance of property or the distribution of proceeds of a life insurance policy.

The common disaster clause found in insurance policies and wills is a provision that names an alternate beneficiary in the event that the testator and legatee or the insured and the beneficiary die simultaneously. Simultaneous Death acts are state laws that provide for the disposal of property in the event of a common disaster.

References in periodicals archive ?
The most common disaster fraud practices include phony housing inspectors, fraudulent building contractors, bogus pleas for disaster donations and fake offers of state or federal aid for a fee.
It also commits Apec member economies to formulate an action plan that will serve as an implementation, monitoring and evaluation tool for realizing common disaster resiliency goals.
Fire disasters appear to be the most common disaster in libraries especially accidental fires due to electrical faults, cigarettes, carelessness by either library staff or library users.
Flood insurance provides residents with the ability to protect themselves financially against the most common disaster we see in America," said Roy Wright, Deputy Associate Administrator for the Federal Insurance and Mitigation Administration.
Finally they said that the creation of a common disaster response mechanism would be welcome.
The idea is to establish a common disaster management system across the region so that the after-effects can be minimized.
Unlike common disaster recovery programs, Servcorp Malaysia's virtual office permits clients hassle-free access to a portfolio of critical business tools.
Does a common disaster clause disqualify life insurance proceeds for the marital deduction?
Under a "true" common disaster clause, when the beneficiary and the insured die as a result of a common disaster there is a conclusive presumption that the insured was the last to die, despite the fact that the beneficiary might survive the insured by days, or even months.
If you have minor children, you need to name a custodian to care for them in case of a common disaster.
This introductory course will familiarize participants with common disaster situations and teach them how to be effective emergency animal relief responders.
Common disaster recovery solutions today tend to provide for the always available, full disaster recovery scenario.