Termination of insurance coverage at an expiration date or anniversary date. This action may be taken by an insurer who refuses to renew, or y an insured who rejects a renewal offer.

The amount of benefits under a group health insurance up to which persons will be accepted into member-ship of the group without evidence as to their health.

An insurer or policy designed for less desirable risks premiums are generally higher and fewer coverages are offered.

Insurance for motorists who have poor driving records or have been cancelled or refused insurance. The premium is much higher than standard auto due to the additional risks.

Economic, political, administrative or legal impediments to trade other than duties, taxes and import quotas.

The non-technical account is an account made up from the balance on the technical account plus the balance of the investment income and gains not included in the technical account, plus profits on any other activities less tax, dividends and any other charges.

A member of Lloyd’s who is not empowered to underwrite, e.g., a retired underwriter.

A contract of Insurance in terms of which the Insurance Company agrees to pay the actual cash value of property destroyed within the limits of the Policy.

An F.M.C. registered cargo consolidator of small shipments in ocean trade, generally soliciting business and arranging for or performing containerization functions at the port. These carriers issue their own bill of lading referred to as a house bill of lading.