disaster area
Definition
Geographical area recently affected by a major disaster and officially declared (by a governor, prime minister, president, etc.) as such. The purpose of this declaration is to provide tax relief and other types of public assistance, such as cash compensation and/or soft loans advanced at below market rates (for a specified period) to facilitate the economic rehabilitation of the disaster's victims and recovery of commercial activity in that area.
disaster area is in the Disaster Planning & Risk Management and General, Marine, & Life Insurance subjects.
disaster area appears in the definition of the following term: disaster loss
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