Judicial enquiry before a jury into any matter, particularly violent or sudden deaths. Liability insurers pay for the solicitor’s fee for representation at any inquest or fatal enquiry where the liability for the death may be the subject of indemnity under the policy. The insured (or his legal personal representatives) must give immediate notice once they have knowledge of an impending inquest or fatal enquiry. Proper representation of the insured is important and the insurer can also obtain copies of the coroner’s depositions.

Treaty clause that the loss to the reinsurer shall not be increased due to the inability of the reinsured to secure a reinsurance recovery from another reinsurer.

Refers to the different types or classes of plant and machinery in connection with which engineering insurers provide an inspection/examination service. Broadly, this means: boiler and pressure plant; lifts, cranes and lifting machinery; and electrical and mechanical plant. See INSPECTION SERVICES; STATUTORY EXAMINATIONS.

Reinsurance clause allowing reinsurer to inspect the reinsured’s records relating to transactions under the contract. The right of inspection extends beyond the end of the contract for so long as the reinsurer has a remaining liability.

Engineering insurance normally includes an inspection service by engineer surveyors. There are detailed statutory requirements that call for periodic inspections of boilers and pressure vessels, lifts, cranes and other lifting plant, etc. The service usually runs in conjunction with insurance on the item concerned. The insured can opt for more than the basic statutory service. A full technical service includes advice, reports, tests and the like.

There are three types: (a) Institute Cargo Clauses (A) cover all risks’ of loss or damage, subject to the specific exclusion of certain non-fortuitous losses; (b) Institute Cargo Clauses (C) covers loss or damage reasonably attributable to named major casualties (fire, explosion, stranding, sinking, etc.); (c) Institute Cargo Clauses (B) cover is as per C above but adding ‘earthquake, volcanic eruption or lightning’ and ‘wet damage’ from the sea, lake or river but also covering theft, shortage or non-delivery. All three sets cover general average sacrifice or contribution, salvage and sue and labour charges and contain the war exclusion but (A) does not exclude piracy. The

Clauses The Institute Container Clauses (Time) provide ‘all risks’ cover subject to the exclusion of named non-fortuitous losses. Loss or damage to the container’s machinery is covered only when the container is a total loss or the damage is caused by a named (major) peril. Ordinary damage (scrapes and bumps) is not covered. Confiscation is excluded under the War Risks Exclusion but is insured under the Institute War and Strikes Clauses Containers – Time.

Professional body representing actuaries in England and Wales. Formed in 1848 it received its Royal Charter of Incorporation in 1884. See FACULTY OF ACTUARIES.

Founded in 1884 the ILU has a worldwide influence, but membership is confined to companies underwriting in the London market. It is now a part of the International Underwriters Association where its work in compiling and revising the standard Institute Clauses continues.

IRM is an educational body and members’ organisation for risk management professionals. It seeks to represent an increasingly broad and diverse set of stakeholders on a worldwide basis. The IRM’s key objectives are: education; qualifications; good practice; and partnership. It has combined with AIRMIC and ALARM to publish the Risk Management Standard.