The initial period specified in a business interruption insurance on the Dual Wages basis plus the extension of the period provided for under the Consolidated Option.
Insurance Encyclopedia
Consolidated Shipment
An arrangement whereby various shippers pool their boxed goods on the same shipment, sharing the total weight charge for the shipment.
Consolidation
Uniting health care facilities under the control of a few health care organizations through mergers, acquisitions, alliances, and formation of contractual networks. This process is related to integration. See integration.
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UK: The combining of separate shipments from two or more shippers for one or more consignees into one container. See CONSOLIDATION CLAUSE.
Consolidation clause
Clause in an open cargo policy providing cover at an agreed premium on goods while in transit to, or while at, a common consolidation point for the purpose of preparing or consolidating the goods for export.
Consolidator
An agent which brings together a number of shipments for one destination to qualify for preferential airline rates.
Consortium
The name for an agreement under which several nations or nationals (usually corporations) of more than one nation, join together for a common purpose. It could be for management or exploitation of a natural resources, as in the case of international petroleum consortiums.
Consortium underwriting
Underwriters/insurance companies working as a group to offer chosen target markets particular forms of business on a group basis, e.g. travel insurance sold through travel agents. Each consortium member taking a preset share of the business accepted by one leading, member named underwriter, on behalf of the consortium. Lloyd’s issued consortium underwriting guidance notes in Regulatory Bulletin 43/99.
Conspiracy
A combination of two or more personas that by concerted action seek to accomplish an unlawful purpose or to accomplish a lawful purpose by unlawful means.
Constant extra risk
Life underwriter’s term describing an impaired life where the additional risk will remain unchanged, i.e. proposer’s medical condition will neither worsen nor improve. See INCREASING EXTRA RISK; REDUCING EXTRA RISK.
Constant Pain
In a workers’ compensation case, pain approximately 90% to 100% of the time.