Institute Cargo Clause 8 (1/1/82) incorporating the warehouse to warehouse clause. Cover attaches when the goods leave the warehouse, etc., at named place of origin, continues during the ordinary course of transit, and ceases on soonest of arrival at place of storage at named destination or 60 days after discharge. If the intended destination is altered after discharge, cover ceases on commencement of transit to new destination, unless it has already ceased under the above conditions. The clause allows for trans-shipment.

Firm whose head office is situated in an EEA state other than the UK and which is incorporated in that state. Automatic authorisation is given, subject to conditions that include a ‘consent notice’ from the home state regulator, to firms exercising EC Treaty rights. Authorisation by the home state regulator provides the firm with a ‘passport’ to carry on business in the UK. See SINGLE INSURANCE MARKET.

a period of twelve months covered by a reinsurance treaty or contract and used to determine the risks covered by the contract.

A tort committed with ‘force and violence’ on the person, property or rights of another. All three types are actionable per se without proof of damage unlike nuisance where the interference is indirect and requires such proof. Wrongful interference with goods is covered in the Tort (Interference with Goods) Act 1977. Liability policies do not cover intentional acts but most public liability policies cover liability from accidental trespass, false arrest, false imprisonment and invasion of privacy. Some cover also exists in respect of loss of documents under professional indemnity policies.
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Trespass consists of the entry of a person or a thing upon land in the possession of another without permission.

The event or circumstances that activates the insurer’s liability to the insured under the policy. Contrast lossesoccurring liability policies with claims-made policies. See LIABILITY SEQUENCE; TRIPLE TRIGGER THEORY; GROSS DOMESTIC PRODUCT TRIGGER; MULTI-OVAL TRIGGER.

An occurrence trigger theory that charges the loss against any policy in force from the time of first exposure to a harmful situation to the time of manifestation of the injury or disease. Triple is derived from: (a) initial exposure; (b) continuing exposure (injury-in-residence); and (c) manifestation. The theory triggers any policy for its full limit not just a share. The insured can select which policies should respond with the possibility of stacking limits, aggregate limits of indemnity from different policy years. The theory has not been uniformly adopted across the US, its birthplace. Other theories, e.g exposure theory, injury-in-fact theory, and the manifestation theory, have also found favour. Insurers use a claims series clause in order to trigger continuing losses from one original cause into the policy year of first occurrence. See also BATCH CLAUSE; LIABILITY SEQUENCE.

Small pension that can be encashed without affecting IR approval.