A bond issued to a court of law to guarantee the performance of certain duties (accounting for income, preservation of property, etc.) by a principal.

Issued to the Court of Protection to guarantee the performance of a person responsible for the affairs of a mentally incapacitated person.

The insurance provided by the insurer for the insured or by the reinsurer for the reinsured.

A person authorised to accept or to issue insurance documents evidencing the acceptance of risks on behalf of Lloyd’s syndicates and other insurers. A coverholder has binding authority. Lloyd’s requires coverholders to comply with prescribed guidelines and undergo a monitoring and review process.

These risks can be covered as an extension to a boiler and pressure plant policy but the insurance is limited to self-damage. The risks apply to plant of cast-iron construction and items with welded or brazed seams. Plant such as heating boilers, ironing machines and air-heating batteries would require the extension. The cause can be internal pressure, low water, water hammer, frost, etc. A valid claim only arises when the crack or weld failure gives rise to leakage of the contents.

The risks to cargo during transhipment or landing in small vessels.
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Risks arising when cargo is being landed or transshipped in a small vessel.

Policy covering blocks, conveyors and cranes of all kinds. In addition to the periodical inspection service (compulsory for most items in this category), the policy covers breakdown but may be extended to cover sudden and unforeseen physical damage at the premises or while temporarily at other premises, including the transit risk, and damage to goods lifted (excluding installed plant and machinery) and own surrounding property. Damage by extraneous causes is generally included. Other options are available.

Provides cover up to £75,000 against fraudulent use of a lost or stolen credit card. The policy also provides £1,000 interest free advance if the insured is stranded overseas and includes other emergency benefits.

Meets monthly repayments up to £1,000 per month for a specified period if the insured is unable to work following accident or sickness or involuntary unemployment. Life cover to secure full repayment is normally included. See CREDIT PROTECTION INSURANCE.