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Cold call

An uninvited personal visit or oral communication. They are allowed for life insurance, unit trusts and personal pensions but the caller must present a business card stating his name, position, firm’s name and address and the FSA authorisation logo. Telephone calls must not be made at an unsociable hour and no misleading information given. The caller must make it clear to the client that he will be entering into a contract for the purchase of investments. No undue pressure may be used.

Cold explosion

An explosion caused by the sudden release of pressure as in the case of a ruptured steam boiler. The risk is generally covered under boiler and pressure plant policies but cover exists under the standard fire policy for damage caused by explosions (including hot explosions) of domestic boilers.

Cold Testing

The cold testing (functional testing) is the checking of parts and elements of insured property by mechanical, electrical, hydrostatic, or other forms of testing under “no load” conditions. Cold testing excludes the operation of furnaces or the application of any direct or indirect heat, the use of feedstock or other materials for processing. In electrical power stations cold testing excludes connections to a grid or other load circuits of electrical generating transforming, converting or rectifying equipment. Contrast: Hot Testing.

Collapse

(i) Literally, to cave in or give way. (ii) The sudden and dangerous distortion of any part of a boiler or pressure plant by bending or crushing caused by steam, gas or fluid pressure whether attended by rupture or not. It shall not mean any slowly developing deformation due to any cause.
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UK: 1. An insured risk under boiler and pressure plant insurance. It means ‘the sudden and dangerous distortion (whether or not attended by rupture) of any part of the plant caused by crushing stress by force of steam or other fluid pressure (other than pressure of chemical action, or chemical action or ignition of the contents of ignited flue gases)’. 2. Under a buildings policy, collapse has been held to mean: ‘falling, shrinking together with breaking down or giving way through external pressure, or loss of rigidity or support’. It is commonly the outcome of subsidence. Collapse does not cover intentional demolition unless necessary in the course of remedial work consequent upon an insured event such as subsidence.
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A property insurance peril, subject to its own specific agreement in property policies, that otherwise insure on an open perils basis.

Collapse and Underground Exclusion Explosion

Exclusion often inserted into general liability Insurance for a firm engaged in blasting, excavating, grading of land, pile driving and similar pursuits that excludes coverage of liability for property damage arising from explosion, collapse, and damage to underground property (such as foundations, pipes and the like). This exclusion is designed to encourage Insureds facing these special exposures to purchase separate coverage.