A deposit premium. A premium paid at inception of the insurance with intention of adjustment to correct the premium later.

In an accident where you are charged with injuring another person or damaging his or her property, liability insurance pays the cost of your legal defence, as well as the cost of any damages for which you are found legally responsible.

Goods jettisoned from a vessel.

A quality in the nature of goods which results in inevitable loss of, or damage to, the goods in certain circumstances.

Expression of the extent of coverage in a lump sum, whereby the entire amount expressed in the policy is available either per person or per accident regardless of whether the claim is for Bodily Injury or Property Damage or both.

Documentary evidence of the sale contract and price of goods.

Insurance on which the premiums are being paid or have been fully paid.

A legal obligation, most often financial, to respond in damages in the event of an accident. It may be imposed by an act of law or assumed under a contract.

A legal action outside a contract; a third party legal liability action is an example.

Loss resulting from a peril, but not caused directly and immediately thereby. For example: Loss of property due to fire is a direct loss, while the loss of rental income as the result of the fire would be an indirect loss.