Two policies issued on the same interest that do not agree in their terms.
Tag: RAW
Non-delegable duties
Duties of a personal nature. The person responsible has a duty to see that proper care is taken and, even though he may engage a contractor to carry out the duties, he remains liable for any breach of duty. For example, a principal may engage a contractor to perform acts involving strict liability as in Rylands v. Fletcher.
Non-delivery
Loss in which the entire shipping package and its contents fail to arrive at its destination. Compare with short delivery.
Non-disabling Injury
An injury which may require medical care, but does not result in loss of working time or income.
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An injury which does not hamper the insured person from performing his occupational duties.
Non-disabling injury (Health Insurance)
A lesser injury that may be eligible for a small benefit; for example, a month’s payment of disability benefits. This type of injury is less severe than a total or partial disability.
Non-disabling injury rider (Health Insurance)
A rider found in disability income policies that does not pay a benefit. Instead, it allows for the payment of medical costs that are sustained due to an injury that does not cause a total disability.
Non-disclosure
Innocent non-disclosure by the proposer before the insurance contract has been concluded. If it relates to a material fact, the insurance will be voidable ab initio at the option of the insurer. If the insurer exercises the option the full premium will be returned. See UTMOST GOOD FAITH.
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Innocent omission by a proposer for insurance to disclose a material fact relating to the risk proposed.
Non-Essential Covers for Motor Insurance
(a) Personal Accident Covers for un-named persons Cover is available for all persons travelling in the vehicle, subject to its maximum carrying capacity. The cover can be taken on named basis for employees or unnamed basis for other than employees. (b) Liability for Non-fare paying passengers.
Non-exempt activities order
FSMA, s.327(6) states that activities must not be of a description, or relate to an investment of a description, specified in an Order made by HM Treasury for the purposes of this sub-section. This coupled with the restricted activities of the designated professional bodies will prohibit exempt professional firms from carrying on specific types of regulated activity.
Non-forfeiture clause
Life policy clause that keeps the policy in force out of the surrender value for a limited period, after the grace period and continued nonpayment of the renewal premium. The policy may remain open for one year or until the surrender value has been exhausted. If a limited period applies, any balance remaining is paid to the insured or used to buy a paid-up policy. When the non-forfeiture period ends a revival clause may apply.