A policy that covers all of the insured’s property in any location, and regardless of where the insured is at the time of loss. This is an all perils coverage that excludes certain circumstances, such as war or nuclear disaster.
Tag: RAW
Personal property of others
Property that does not belong to the insured named in the contract. This term excludes real estate. This type of property left in the insured’s care and custody may be covered under homeowners or commercial property.
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Property, other than real property, which is not owned by an insured. Liability forms have traditionally excluded coverage for property of others in an insured’s care, custody or control. Latest Householders policies provide some coverage for property of others by way of endorsement on payment of additional premium.
Personal property/belongings
Part of the household contents definition generally specified as ‘valuables and personal items’ belonging to the insured or his family. Personal items are items worn, used or carried about the person in everyday life. Personal belongings exclude, inter alia: money and credit cards; mechanically propelled vehicles; bicycles, caravans, bicycles, etc; fragile items; business and trade goods. Money, pedal cycles and specified articles can be insured under separate sections.
personal protective equipment (PPE)
Special clothing or equipment worn by an employee for protection against a hazard. Generally, uniforms are not considered personal protective equipment unless they function as protection against a hazardous condition at work.
Personal Protective Equipment at Work Regulations 1992 (PPE)
Suitable personal protective equipment must be provided unless the risk is adequately contained. PPE must be maintained in good repair and steps taken to ensure that it is used correctly. The need for PPE must be assessed and information given on its use. A breach is criminal and a civil claim can be founded on a statutory breach.
Personal Public Liability Policy
A Policy to indemnify the insured and the members of his family including household savant/s and driver/s against claims for alleged negligence in his capacity as a private citizen, Such liability may arise during sports, including horse riding, from the ownership of domestic animals or from the use of sporting gun.
Personal qualifications
Skill, education, and experience that makes an individual suited for a specific job or task.
Personal recommendation
For the purpose of ICOB, it is the advice given to a specific person (including the advice given to a group of people).
Personal representative
A person appointed through the will of a deceased or by a court to settle the estate of one who dies.
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See: legal personal representativE.
Personal reserve fund
A reserve of cash or investments held on behalf of a member and comprising part of his funds at Lloyd’s. The reserve, which is held within the premiums trust fund of the member, may be built up by setting aside a proportion of past profits or by the setting aside of funds from other sources. It is separate from any special reserve fund the member may have.