A clause in a Marine Hull policy covering the ship owner in respect of his liability (or frequently three quarters of his liability) for claims by third parties arising out of collisions.

Though, not yet prevalent in India, the color of the vehicle is also important for rating purposes, as international studies have found that black, red or yellow painted cars are more prone to accidents, while white cars are more prone to thefts.

An aircraft with pallet or container capacity on its main deck as well as in its belly holds.

(i) Applied to a Company or Agent handling both industrial and life Insurance. (ii) Increasing the number of exposure units, thus, reducing the risk.

An agency that sells both life insurance and industrial life insurance.

One who sells both ordinary and industrial life and health business. The combination agent, like an industrial agent, is assigned to clients in a specific territory.

An agent who sells industrial life insurance and regular life insurance.

A policy which provides both business interruption and extra expense coverage in a single contract. This is now replaced by the business income forms. Refer: “Business Income Coverage Form.”