Phrase used during the negotiations of third party claims settlements indicating that liability is not admitted. Statements and offers made ‘without prejudice’ cannot subsequently be used in evidence at court proceedings.
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(i) An ex-gratia settlement made by an underwriter on condition that such action shall not be used as a basis for settling a similar loss in the future. (ii) In all correspondence with the insured relating to a claim, the Insurers incorporates the words “without prejudice” on the top. The effect of these words is that whatever action the Insurers may take in the processing of the claim, they reserve their right to deny liability ultimately if they are legally entitled to do so.

Whole life or endowment policies that guarantee a fixed sum on death or, in the case of endowments, survival without any bonus addition. They are also called non-participating policies as they do not participate in the insurer’s profits.

Indicates that if an annuitant dies during the interval between two annuity payment dates, there will be no payment for the period between the payment preceding death and the date of death.

assurances providing only a fixed sum assured.

Term used in slips to indicate that the general terms and conditions of an expiring treaty will be incorporated on renewal for the following year.

Term used in slips for upper layers of excess of loss treaties to indicate that the general terms and conditions will be as per the lower layers.

Describes a public liability risk where the main hazards stem from the work undertaken by the insured on third party premises. Electricians, plumbers, etc., install, repair or carry out maintenance on the premises of others. Visits to the insured’s premises by customers are not a major feature of the risk.

1. Property item at risk of loss or damage by fire, etc., usually included in the policy schedule. The sum insured is based on the cost of raw materials plus the cost of labour and other resources used in creating the product up to the time of loss. Completed products insured as stock.

A condition or disorder relating to many areas of the body, including muscles, tendons, joints, etc. Areas affected include the neck, shoulders, arms, elbows, hands and fingers. Tenosynovitis and carpal tunnel syndrome are particular sources of employers’ liability claims. WRULDs should be considered as part of the risk assessment carried out under MHSW.