Merchandise approved by an insurer for cover under an open cargo policy on the terms and conditions agreed. Other goods are ‘held covered’ subject to the payment of an additional premium.

IR list of occupations (e.g. professional footballers, jockeys) whose members can receive a pension prior to age 50, e.g. the lowest age, 35 for footballers, reflects short careers.

Packaging meeting the packaging industry standards of sufficient design and construction to protect the cargo from the normal hazards expected during the intended voyage. This includes hazards associated with normal domestic handling and storage from point of origin to final destination.

A person upon whom the FSA has conferred approved person status, allowing them to undertake a controlled function, having passed the fitness and propriety test (FIT). Approved persons must abide by the Statement of Principles and Code of Practice for Approved Persons. See SIGNIFICANT INFLUENCE (www.fsa.gov. uk).

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An individual who has been approved by the Financial Conduct Authority (FCA) to perform a FCA controlled function for an authorised person.

1. An employers’ liability policy that does not contain prohibited conditions, i.e. certain conditions allowing an insurer to repudiate a claim. This does not preclude a condition allowing the insurer to reclaim from any employer any amounts paid by the insurer following injury to an employee when a condition, otherwise prohibited, has been breached. The prohibited conditions are set out in the Employers’ Liability (Compulsory Insurance) Regulations 1998. 2. The term is also used in contracts that impose an obligation to insure one of the parties to the effect that the policy has to be approved by the party imposing the obligation.

Motor vehicle garages listed by motor insurers as having been approved by them for the purpose of repairing damage. The insurer secures improved terms and streamlines its administrative procedures in return.