Suppliers who put their own name on the product and give the impression that they are producers. Such suppliers are producers’ for the purpose of the Consumer Protection Act 1987 and may be strictly liable for the damage as defined by the Act.
Insurance Encyclopedia
Own Case Agent (OCA)
Whose activities are limited to drawing commission on his own Insurances.
Own damage
A term used to describe loss or damage to the insured’s own vehicle under a motor insurance policy. An ‘own damage’ excess may apply under the ‘loss or damage’ section of the policy.
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In Motor insurance, damage to the insured’s own vehicle.
Own Occupation Rider
This rider guarantees benefits if the insured is unable to perform the “material and substantial” duties of the occupation held at the time the disability occurs. For example, if a surgeon loses his or her hand and can no longer perform surgery but can teach and consult, he or she will receive the total benefit amount. Without this rider, the insured’s benefits limited to the difference between the income prior to the disability and the income that can now be earned.
Own Property Exclusion
Excludes liability under liability insurance for ‘damage to property owned or occupied by or in the care, custody or control of the insured or any servant. . .”‘Owned property’, though excluded, is not in any event within the operative clause of a legal liability policy. Such property is normally insured under first party insurance. There is legal liability for property not belonging to the insured that is in his custody of control. See CUSTODY AND CONTROL EXCLUSION.
Own Risk
A risk that a person retains for himself, without insuring it.
Owner’s and Contractor’s Protective Liability
Contract of Insurance protecting the owner and contractor against the negligent actions of subcontractors they have hired.
Owner’s Clauses
Clauses drafted by ship owners or large exporters or importers for use in their Marine insurance policies.
Owner’s Liability
Liability of the owner of a building (as distinct from an occupier) for claims in respect of bodily injury or damage to property.
Owner’s Risk
The words “At Owner’s Risk” used in the goods receipt only means that the owner would be liable for any loss/damage to the gods which are lying with the Company if such loss/damage was not caused by any negligence on the part of the carrier.