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Definitions (135)
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bloodstock insurance
Livestock insurance for horses kept for racing and breeding purposes providing ‘life and health’ cover.
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bursting or overflowing of water tanks
See ‘Additional Peril’ under a fire policy. This covers damage resulting from a plumbing accident but does not strictly cover the cost of repairing the burst tank or pipe. Of [..]
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earthquake
See ‘Additional Peril’ under a Fire policy.
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effective date
The date upon which cover under an insurance policy becomes effective. Usually this will not be until an insurer has accepted the proposal and confirmed cover in writing by issuing a cover not [..]
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employer’s liability
The legal rights of an employee are usually defined in law under a country’s Employment Code or Workmen’s Compensation Acts. Usually these laws provide for certain fixed sums [..]
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engineering insurance
Also known as Machinery Breakdown or Plant All Risks Insurance, this type of insurance provides very broad cover for damage to electrical and mechanical machinery.
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endorsements
An endorsement is a special amendment to a policy wording. It may be attached to the policy from inception or it may be added to the policy mid term. Mid term endorsements are often issued at [..]
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erection all risks
An erection all risks policy offers cover very similar to a contractors all risks or construction all risks policy. It is however aimed more at erection of plant and machinery rather than the [..]
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errors and omissions insurance
Engineers, architects, lawyers, accountants and even insurance brokers hold themselves out as professionals capable of offering accurate and well considered advice. If they fail in their duty [..]
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excess
The amount of any claim which is the responsibility of the Insured and which the insurer will deduct from any claim payment. Often this is referred to as a deductible. Sometimes excesses are v [..]
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