A policy under the terms of which protection follows moveable property, covering it wherever it may be.

A shipping term meaning “as fast as can”; that the vessel must be loaded or unloaded as fast as possible.

A multiple peril contract for owners or occupants of dwellings, generally including fire, theft and liability coverage. A homeowner’s policy is a package policy combining many additional types of coverage not included in basic fire policies.

One who represents an exporter in arranging overseas shipments.

Cancellation of an insurance outright from inception.

A term used in the sale of goods where the buyer’s responsibility for the goods attaches from the time they leave the seller’s warehouse.

(i) An agreement in advance, by an Insurer, to continue insurance in the event of a certain defined circumstance arising; or (ii) An insurer may agree to “hold covered” a new risk or a renewal pending receipt of special requested information or full information.

Fraud by the Insured negates a contract of insurance and the Insurer is not liable to return any premium paid.

The temperature at which a substance or the vapour there from will ignite. The lower the flash point the higher the fire risk.

In marine insurance, a term used in determining General Average. It is expenditure or sacrifice other than obligations under the contract of affreightment, incurred by the ship owner.