Pension scheme under which the benefits for each year of membership are related to the pensionable earnings for that particular year. See CAREER AVERAGE REVALUED SCHEME.
Tag: RAW
Career earnings benefit formula
See: career average benefit formula.
Caregiver
Individual who helps care for someone who is ill, disabled, or aged such as a relative or friend who volunteers to help. However, some people provide caregiving services for a cost.
Cargo
Goods transported aboard a vessel or other conveyance not being provisions, stores, equipment or bunker fuel for use on the vessel. The cargo owner’s insurable interest continues for so long as he has title to the goods. There are other cargo interests. The risk factors in marine insurance: mode of transportation; type of goods; packing; size/weight/value; trip route; trip duration; season; socio-economic environment.
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Material or goods carried by ship, rail/road or aero plane.
Cargo Certificate
An insurance contract in which ocean-going cargo is insured.
Cargo Clauses (Air) (excluding sending by post)
Cover is against “all risks” as in ICC (A) except that GA and salvage charges and both to blame collision clauses are omitted, these not being concerned with air transit. Under duty of the assured clause, charges reasonably and properly incurred to avert or minimize an insured loss and pursue recovery rights are also covered. Forwarding charges would be covered under this item, being sue and labor in nature.
Cargo coverage
MMZ
Cargo Insurance
A policy covering the cargo being transported by a carrier.
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An ocean or inland marine Insurance contract that protects the insured against the los of or damage to shipments.
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UK: Cover is defined by standard clauses. Institute Cargo Clauses, have three main sets, Clauses A, B and C, selected according to the nature of the goods, and specific to the type of cargo, e.g. coal, oil, jute, frozen food, etc. All sets cover general average and salvage charges and contain the War Exclusion Clause and the Strikes Exclusion Clause.
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Inland or ocean marine insurance covering property in transit.
Cargo insurance (Property Insurance)
Insurance that covers cargo as it is transported to another location.
Cargo Interest
Insurable interest relating to cargo, other than the interest of the cargo owner.