An organization charged with distributing safety education materials. This nonprofit organization was established by U.S. Congress in 1913.
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Organization providing safety information, published safety material including the accident prevention manual for industrial operations.
Tag: RAW
Nationwide Definition of Marine Insurance
A document published by the National Association of Insurance Commissioners that was rooted in an older (1933) definition of Insuring Powers of Marine and Transportation Underwriters. In general, the definition specifies property that may be insured under marine contracts such as property in inland transport and property regularly or routinely in transit, for example, contractors equipment.
Natural death
Death due to natural causes, defined as any cause other than accident or homicide.
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Any death that is not accidental.
Natural hazard
A hazard caused by natural forces that may be climatic, oceanographic or geological in nature. Contrasts with man-made hazard.
Natural Justice
Consideration to be observed by anyone adjudicating on the rights of others, such as acting fairly, in good faith and without bias, and giving each party the right to state his case.
Natural Premium
A one year term Policy’s premium. It is an amount of premium that pays only for the current year’s Insurance and does not build up a reserve.
Natural premium (Life Insurance)
The mortality cost of life insurance for one year.
Natural premium method
Outmoded method of charging life insurance premiums. Each premium is related to the current risk of death and therefore increases year by year. At later stages the premiums often become prohibitive as there is no reserve or surrender value. It differs from assessmentism in that no allowance is made for expenses. The level annual premium system overcomes the problem of the natural premium system.
Natural Rubber clauses
See: “Marine Insurance.”
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Based on Institute Commodity trades clauses (B) with many of the clauses Identical. The rubber clauses provide a wider cover than the commodity trades (B) in that they cover all water damage also from any source including ship’s sweat and condensation. Loss or damage caused by hooks, spellings or leakage of any substance or liquid, other cargo, or moisture from wet or damp dunnage are also covered. There is cover also for theft, pilferage and non-delivery.