the traditional technique of reserving for future claims in general insurance business which compares the emergence of claims year by year for each underwriting year, to arrive at an ultimate loss estimate by applying development factors to losses already paid or incurred; the relevant data are set out in triangular arrays (whence the alternative term triangulation).

A method used in general insurance by claims reserving practitioners to estimate the loss development of outstanding claims. It involves calculating ratios of adjacent ‘ladders’ (columns of figures) in a table.

A proximate cause term referring to a sequence of events preceding a loss.
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If there is a Direct chain of events (one leading to the other) with no exceptions involved, the insured peril is the Direct and natural cause of the loss and there is liability. But if an excepted peril precedes the operation of the insured peril so that the loss caused by latter is Direct and natural consequence of the excepted peril, there is no liability. Broken chain of events : Where the chain of events is broken, without any excepted perils, and if it is possible to separate the losses, there is liability for losses caused by the insured peril. If the chain is broken by an insured peril, the subsequent peril breaks the chain, liability ceases for subsequent losses only.

The right of a supplier of an injurious product to recover the amount paid in damages from his own supplier. A retailer, liable under the Sale of Goods Act 1979 for product-induced injuries to a customer, may seek an indemnity under the Act from the relevant wholesaler or manufacturer who breached an implied term (fitness for purpose and satisfactory quality). However, as it is a nonconsumer contract an exclusion of these implied terms is permitted if the supplier can show that the exemption passes the test of reasonableness. In turn a wholesaler can look to the manufacturer for a Sale of Goods Act 1979 breach.