The person made liable under the Animals Act 1971, s.2.. The keeper is the person who owns the animal or has it in his possession, or is the head of the household of which a member under the age of 16 owns it or has it in his possession. If a person ceases to own or have possession of the animal he will remain the keeper until another person becomes the keeper. A person who takes possession of an animal to prevent it from causing damage or to return it to its owner does not, merely by so doing, become a keeper.

Document that the FSA requires should be given to any person considering the purchase of a life insurance policy or joining a pension scheme before they make their decision. The document is presented in such a way that the consumer will be assisted in making comparisons with the different providers’ offerings for the type of investment concerned.

Insurance protecting an entity against financial loss caused by the death or disability of a ‘key’ person. The loss is the estimated cost of lost business, abandoned projects and replacement of the individual. Some lenders require keyman insurance before lending to small companies which rely on one or a few key people. Keyman insurance products include life and/or health insurances.

Theft cover clause stating the ‘cash in safe’ cover will not operate if the safe keys are left on the premises when the premises are closed for business.

Reimburses insured for ransom paid to kidnappers and pays for professional assistance to help negotiate with the kidnappers. Cover is effected by corporations on named individuals or by ‘celebrities’. The policy is subject to a perperson or annual aggregage limit of indemnity and is subject to a substantial deductible or co-insurance clause. It is a condition of the policy that its existence is never disclosed. Banks cover ‘forced withdrawals’ from its vaults and money to secure the release of a banker or member of his family. Kidnap and ransom cover is also available at Lloyd’s for valuable bloodstock.

A forbearance agreement between two motor insurers that in the event of an accident involving their respective insureds each would carry its own loss in terms of accidental damage repairs regardless of liability. The agreement has been replaced by the memorandum of understanding.

FSA’s COB Rule 5.2 requires a firm to take all reasonable steps to elicit the personal and financial information needed to enable them to discharge their services properly from the client’s perspective. See FACT FINDING.

Marine cargo clause limiting liability on a claim to payments for reconditioning of the cargo, the cost of new labels and re-labelling.
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This clause protects the insurer in case where the material inside is intact but the external wrappers or labels are defaced, damaged or stained. In such cases, insurer’s liability is restricted to the cost of replacement of the labels or wrappers and reconditioning the goods but a total loss cannot be claimed by the assured. This clause is more relevant when the assured is a manufacturer himself and in case of loss of or damage to labels on his manufactured items, can re-label them.

Gangs of individuals whose leader, the labour master, negotiates work and payment with employer. The work is usually casual in the construction industry, agriculture or horticulture. As the gang usually works alongside the employer’s staff, they are brought within the employers’ liability policy definition of employees’. The definition includes: ‘labour masters and persons supplied by them…

Sub-contractors, often in the building trade, who contract to supply work not materials. They are within the employers’ liability policy definition of ’employees’ similar to labour gangs.