A physical or mental condition that existed prior to the effective date of the insured’s health-based insurance. The policy usually excludes claims where a condition, the subject of medical treatment or consultation within one year prior to policy inception, has contributed to the claim. If, after two years of insurance, a pre-existing condition has not necessitated further treatment, the exclusion will not usually apply.

Satellite insurance providing all risks’ insurance from the completion of the assembly until the launch. The policy operates while the satellite is in storage and transit and also covers third party risks. The cover continues until the intended time of the launch engine’s ignition. If the launch is aborted the policy may become operative once again.