Gross wholesale value after freight, import charges, duty, etc., to represent the value that cargo would have had if it had arrived safely at the place where the adventure ended.

***

What the value of cargo would have been if it had arrived undamaged at the place where the adventure terminates.

Funded by the ABI, APB coordinates a national campaign to reduce arson, raise awareness of the problem and bring together private and public sector organisations sharing these objectives. APB is an active member of the government’s Arson Control Forum. The Bureau also, inter alia, gives guidance on best practice arson investigation and prevention. www.arsonpreventionbureau.org.uk.

A computerised art index set up to log stolen works of art and compare their description against auction catalogues world-wide.

Document setting out the internal regulations and bye-laws of a company. It covers procedures, shares, meetings, directors and other administrative issues. The document is deposited with the Registrar of Companies. Alternatively the company can elect to be bound by one of the model conditions (Table A is commonly chosen) that form part of the Companies Acts (1985 and 1989). The contract’ that directors have with their company is based on the Articles. See DIRECTORS’ AND OFFICERS’ LIABILITY.

A term that indicates that an insurance should, on expiry, be renewed on its pre-expiry terms.

***

Expression used where it is proposed that an insurance should be renewed on its previous terms.

The terms under which property, e.g. salvage (vessel or cargo), is sold, meaning that it is to be sold at its present location and in its present condition without warranty as to quality or quantity. See SALVAGE VALUE.

Term that denotes that a reinsurance contract will follow the underlying risk. It does not mean following the insurance terms and conditions in their entirety. As original’ serves to define the risk (e.g. period of cover, geographical limits, the nature) so that reinsurers and insurers face exactly the same risk (Pine Top v. Unione Italiana Anglo Saxon). There is a presumption against incorporation into the reinsurance contract of collateral clauses (e.g. jurisdiction clause) from the underlying contract. However, the term is presumed to make warranties as significant to the reinsurance policy as to the insurance contract (Groupama Navigation et Transport & Others v. Caiaiumbo CA Seguros).

Any of the fibrous amphibole and serpentine minerals, especially chrysolite and tremolite that are incombustible and resistant to chemicals. It was formerly widely used in the form of fabric or board as a heat-resistant structural material. Inhalation of asbestos fibres can cause asbestosis or mesothelioma. See CONTROL OF WORK REGULATIONS ASBESTOS 2002. AT

Under the Control of Asbestos at Work Regulations 2002, owners of non-domestic premises contemplating major refurbishment or demolition must arrange a survey sufficient to become alerted to any asbestos that may be disturbed. Guidance on what constitutes a survey is in HSE document MDHS 100.

A characteristic fibrotic condition of the lungs caused by inhalation of asbestos dust or fibres. The disease makes breathing difficult and is often fatal after being latent for between 20 and 40 years. Sometimes the term is used to include all asbestos-related diseases, e.g. mesothelioma intersitial pulmonary fibrosis and bronchial or laryngeal carcinomas. The disease produces long-tail liability claims in employers’ liability insurance and in public liability. See TRIPLE TRIGGER THEORY.