Cover of the same particular risk under two or more policies although they may vary in amount or policy period.
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Where two or more Insurance policies which cover the same property in the same manner and subject to identical conditions though they may differ in amount or Policy dates.

Damage caused by a violent shock as in the case of an explosion. The standard fire policy covers explosion damage caused by domestic boilers or the explosion of gas used for domestic purposes or used for lighting or heating the building (provided it is not a part of a gas works).

the FSA’s Threshold Conditions manual, the minimum standards for becoming and remaining authorised.

Assignment of a life policy that is not absolute but is dependent upon certain conditions. It typically happens when a policy is given as security for a loan or mortgage as on repayment the original insured has the right to have the policy reassigned to him.

The Courts and Legal Services Act 1990 permits conditional fee agreements in certain categories of proceedings under which solicitors and counsel only receive a fee, and then at an enhanced rate, if the case is won (no win, no fee). Conditional fees are most commonly employed in personal injury cases. In all litigation solicitors are permitted to act whereby they receive no fee if the case is lost but the usual fee if they win. See ACCESS TO JUSTICE ACT 1999; AFTER THE EVENT INSURANCE.

FSA rules that relate primarily to the marketing of products and the advice that financial advisers give to customers concerning financial products (www.fsa. gov.uk). See KNOW YOUR CUSTOMER; SUITABILITY.

Liability policy clause (a) restraining the insured from making an admission of liability and (b) enabling the insurer to take over conduct and control of all proceedings, including the defence or settlement of any claim that may be within the policy. Enables the insurer to use the name of the insured to enforce claims against third parties, effectively permitting the exercise of subrogation rights before any indemnity payment has been made.

Certain non-investment insurance contracts that are sold by providers of non-motor goods (domestic electrical goods) and services related to travel, e.g. non-motor extended warranties and travel insurance sold with a holiday that are not subject to FSA rules on selling and administration.

Pension scheme rule under SSASs preventing the scheme from dealing with members or connected persons in terms of buying, selling, leasing, etc. In the case of past members three years must elapse before the scheme can purchase an investment owned by a previous member or connected person.

1. Broken sequence of events. If an insured peril has been preceded by excepted perils, they will be disregarded given the break in the chain of causation. If the insured peril intervenes and causes the loss it is the proximate cause. 2. Unbroken sequence of events. When the insured peril is the natural and probable consequence of an excepted peril, the excepted peril is the proximate cause. When the excepted peril is the natural and probable consequence of the insured peril the latter is the proximate cause of the loss. See CONCURRENT CAUSES.