Soft Market is the one side of the market cycle, which is characterized by low rates, high limits, flexible contracts and high coverage availability. Related Terms# Hard Market# in the insurance industry, an upturn in the market cycle, with premiums rising and capacity for most types of insurance declining. May be...

Terrorism - the use of violence to produce terror for political or ideological purposes. Terrorism is distinct from war in that it need not be the act of a military force or be directed by a sovereign power. Foreign acts of terrorism may be certified as an insurable loss exposure under the Terrorism Risk Insurance Act...