It is a contract, which is contrary to law and against the interests of public. It cannot be sustained and does not have legal effect.
Insurance Encyclopedia
Illegal occupation provision (Health Insurance)
A clause that states the insured is not covered for losses that arise if he or she tries to commit a felony. Coverage is also voided if the insured is working at an illegal occupation.
Illness perils
Insurance category used by health insurance underwriters to review the type and degree of peril of particular jobs such as exposure to dust, poisons, and extreme temperatures.
Illustration
A life, pensions or investment estimate given in respect of the returns a person might get on their contributions or investment. It usually shows the expected outcome for different levels of be growth. The actual returns may higher or lower than the estimates provided. The illustration is an ‘invitation to treat’ not an offer.
IM
See: internal medicine (IM) .
image copy recognition (ICR)
Same as optical character recognition (OCR) .
IMB Piracy Reporting Centre
International Marine Bureau’s centre started in 1992 following the growth in piracy on the oceans. It maintains a round the clock daily watch and, working with law enforcement, reports suspicious shipping movements, piracy and armed robbery at sea anywhere in the world. It publishes information on the Internet that puts ships’ masters on the alert. Weekly piracy report and other details can be viewed on www.iccwbo.org/ccs/ menu_imb_piracy.asp. See PIRACY.
IME
Abbreviation for independent medical evaluation, independent medical examiner, and independent medical evaluator. See independent medical evaluation (IME), independent medical examiner (IME) , and independent medical evaluator (IME) .
IMF: International Monetary Fund
International Monetary Fund, an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Immature Policies
Claims made coverage which has not been in effect, on an uninterrupted basis, for at least five years. For rating purposes, a discount applies to manual rates for immature policies.