(i) A right which can be exercised by an underwriter to relieve him of liability under the Policy because the assured has been guilty of a breach of good faith or where the risk in a voyage Policy has failed to attach within a reasonable time after the underwriter wrote the risk. (ii) Never having the exposure or abandoning an exposure that is acquired earlier. (iii) A risk management technique that often is not feasible because it keeps one from engaging in a desired activity. Award : The decision in Court of Law or Arbitration.