Termination of a life caused by a wrongful act, neglect, or fault (liability situation).X
Insurance Encyclopedia
Wrongful death action (Legal Terminology)
A civil lawsuit filed by the survivors of the deceased against an individual or corporation believed to be in some way responsible for that person’s death.
Wrongful Dismissal
The dismissal of an employee when the employer is in breach of contract. The employee can found a common law action on the breach. An employee, summarily dismissed in breach of his notice and other contractual entitlement, will have a claim for damages unless the dismissal was justified under the employment contract. The risk is insurable by the employer under employment practices liability insurance and legal expenses insurances. Compare with unfair dismissal.
Wrongful trading
A director who trades on knowing that there is no reasonable prospect that the company will avoid going into liquidation, paying its debts and the winding up expenses is guilty of wrongful trading. The Insolvency Act 1986, s.214, provides that a civil remedy may lie against the director who may then become personally liable to contribute to the assets of the company for the benefit of creditors. See DIRECTORS’ AND OFFICERS’ LIABILITY INSURANCE.
WSIA
The Wholesale & Specialty Insurance Association which was formed on August 1, 2017 after members of the American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) voted to merge the two associations and create the Wholesale & Specialty Insurance Association. WSIA is a member services organization that serves the entirety of the wholesale, specialty and surplus lines industry.
X table
A term used to refer to a table in progress that is not yet able to be used in rating.
X-Bracing
Cross bracing in a partition to provide rigidity.
X.C.L.
Abbreviation for the term “Excess Current Liabilities.”
X.C.U.
See: “Explosion, Collapse and Underground Exclusion.”
X.P.
Fire resistive protected (classification).