Lloyd’s and the London Insurance Companies.

Any property of an Insured other than real property. Homeowner policies protect the personal property of family members, and commercial forms are used to protect many types of business personal property of an Insured.

The person who is not the primary or principal driver of the vehicle.

The duty of the Insured or his agents, by policy terms or statute law, to take such measures as may be reasonable for the purpose of averting or minimising a loss.

Injury other than bodily injury arising out of false arrest or detention, malicious prosecution, wrongful entry or eviction, libel or slander, or violation of a person’s right to privacy committed other than in the course of advertising, publishing, broadcasting or telecasting.

A clause in an insurance contract which grants either party the right to cancel the insurance giving the required notice in writing. A refund of premium is normally given to the Insured.

Certain types of light machinery and electrical equipment may be found to be ‘not working’ although there are no outward signs of damage. It is usual in marine insurance to exclude this type of loss.

Fortuitous accidents which cause loss of or damage to hull or cargo covered by a marine policy. The ordinary action of wind and waves is not a peril of the sea.

Notice which is a condition precedent to a claim for constructive total loss of hull or cargo in marine insurance.

The policyholder/applicant makes a false statement of any material circumstance on his/her application. For instance, the policyholder provides false information regarding the location where the vehicle is kept.