Wastes of organic and inorganic origin discharged by industrial and commercial concerns. Organic wastes are discharged on a considerable scale by the food industries: canneries, dairies, breweries, abbatoirs and fish-meat factories. Other significant waste generator include paper-mills, tanneries, petro-chemical works, textile manufacturers and laundries. Inorganic wastes include acids, alkalis, cyanides, sulphides and the salts of arsenic, lead, copper, chromium and zinc. Underwriters concern themselves as to the methods of waste disposal used by firms as considerable pollution damage and cleaning up costs can arise. Any discharge of waste into the air, soil or water can create major problems not least for liability insurers. See also WATER POLLUTION.
Insurance Encyclopedia
Traded endowment policy (TEP)
Endowment policy that has been sold by the original policyholder to an investor before the policy matures. The policy is assigned to the new owner who pays all future premiums but who ultimately receives the policy proceeds. The insurer is notified of the assignment. The original owner ‘trades’ his policy when the market value exceeds the surrender value.
Trading partner
1. External entity with whom business is conducted (i.e., customer). This relationship can be formalized via a trading partner agreement. A trading partner of an entity for some purposes; may be a business associate of that same entity for other purposes. 2. Company that agrees to exchange information electronically with another company.
trading partner agreement (TPA)
1. Any contract (manual, bulletin, or memorandum) between the provider and the claim transmission receiver that details the electronic data interchange requirements between the parties. 2. Under the Health Insurance Portability and Accountability Act (HIPAA), a TPA may not include any agreement to use the codes, segments, or transactions published in an implementation guide in a manner different from that prescribed in the applicable guide.
Trading Warranties
Trade’ in marine insurance means where the vessel navigates. Underwriters control navigation risks by means of the Institute Warranties.
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A set of warranties in a Marine Hull Policy dealing mainly with prohibition of a vessel entering specified hazardous areas.
Traditional insurance
See: indemnity plan .
Traffic Conference
Rate fixing machinery operated by IATA.
Trailer
A trailer is any truck-cart, carriage or other vehicle without means of self-propulsion including agricultural implements drawn or hauled by any self-propelled vehicle.
Trailer Caravan Insurance
Insurance of the structure and contents of trailer caravans whether in transit or on a site.
Trailer for Motor
Classified under Class B. A trailer is any truck-cart carriage or other vehicle without means of self-propulsion including agricultural implements drawn or hauled by any self-propelled vehicle. Trailers are of two types (i) One version has axels at both the ends coupled with tow bar arrangement by fifth wheel coupling. (ii) In another version the rear portion will have the axel and the front portion will be mounted on the prime mover.