A contracted out occupational pension scheme must pay at least this amount in pension benefits to the surviving spouse of a member who dies. This applies for any benefits earned pre-April 1997. WGMP does not apply to a scheme that has contracted out under protected rights rules.

The ignorance which occurs when a person deliberately and wilfully refrains from inquiring into a situation or deliberately disregards a situation in the hope of profiting from it. It applies to assignees for value who seek to gain advantage by giving notice of an assignment under the Policies of Assurances Act 1867 ahead of previous assignees they know or suspect to exist who have not yet given notification. This conduct is not permitted as a means of an assignee gaining priority.

Formed by leading international insurance brokers to exploit the use of Internet technology to place risks internationally while also continuing to place business manually. In June 1999, WIN merged with LIMNET and the RINET to form WISe (the World InSurance – E-commerce).

The risk that wind speed variations will reduce the volume of electricity generated by wind farms and therefore sales for wind power companies. The risk can be managed by a weather derivative based on wind power indices (WPIS). The average value of the index over any 12-month period is 100 in a normal year. An annual value of 95 indicates that the index is 5 per cent below normal for the region and leads to a payout. Wind farm developers, operators and financiers may all hedge against the wind risk.