Brings together members from insurers, brokers, other intermediaries, academics, solicitors and barristers, all interested in insurance law. BILA holds regular talks and conferences on insurance law topics. It produces technical papers for various bodies including the UK government and the Law Reform Commission. It has initiated many changes to the world of insurance. BILA is also the British Chapter of Association International de Droit des Assurances (AIDA) and is an active participant in its quadrennial world congress.
Insurance Encyclopedia
British Maritime Law Association
The organisation which coordinates the various sectors of the shipping industry, and includes both the London marine market, underwriting hull and cargo business, and the Protection and Indemnity Clubs underwriting shipowners’ liabilities in mutual associations.
British Thermal Unit
The amount of heat required to raise the temperature of one pound of water one degree Fahrenheit.
British Waterways Act 1995
Requires all boat owners to have third party cover with a minimum £1 million indemnity on most inland waterways. The British Waterways Authority seeks evidence of insurance before issuing the boat owner’s annual licence to use its waterways.
Broad evidence rule – T
He determination of the actual cash value of any property should include all relevant evidence an expert would use to set the value of the property, including replacement cost less depreciation and fair market value (which takes into account location, obsolescence, present value of expected income from the property, and economic conditions at the time of the loss). The rule applies equally to real property and personal property, commercial property and personal lines property, fixed equipment, mobile equipment, and automobiles.
Broad evidence rule (Property Insurance)
Rule applied to calculating the actual cash value of lost property. Under this rule, any evidence about the value of the item is considered admissible. The item’s value can also be determined by any means that accurately depicts its true value.
Broad form (Liability/Property Insurance)
Insurance that covers many hazards to include theft, loss, property damage, and vandalism.
Broad form cause of loss (Property Insurance)
A type of homeowners insurance wherein most reasons for a loss are covered.
Broad Form Nuclear Energy Liability exclusion Endorsement
A form which must be attached to every General Liability coverage part. It excludes coverage for any loss resulting from the hazardous properties of nuclear material related to the operations of a nuclear facility.
Broad Form Perils
A property insurance designation for coverage that extends beyond the basic named perils.****************A property insurance designation for coverage that extends beyond the basic named perils. This coverage can be found on both commercial and personal property policies. Broad form perils may include the basic perils as well as vandalism, malicious mischief, damage by burglars, falling objects, weight of ice, snow or sleet, accidental discharge of water or steam, sudden and accidental tearing arpt, freezing, sudden and accidental damage from artificially generate electrical current. The exact perils will vary by insurer.