Risk-based capital regime being introduced by the FSA for life and nonlife insurers. Calculations are based on industry-wide assumptions and individual capital guidance (ICG) given to firms based on the FSA’s view of how much capital would be adequate for individual firms to hold taking into account the firm’s risk profile and its own assessment of their own capital needs. ICG will normally be at or above ECR and although for guidance only, the firm’s not meeting the ICG figure will be expected to set out a plan to restore adequate capital. The mechanism, Individual Capital Adequacy Standards (ICAS), means that firms will hold capital more appropriate for their business and control risks and have the incentive to improve their risk management.

The extra charges for the handling of insured cargo because of its damaged condition.
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Increased in the charges for handling insured cargo resulting from the fact that the cargo has been damaged.