A survival certificate certifying that an annuitant is still alive.

Documentary evidence to the import country’s customs authorities that the cargo: (a) is not from an embargoed or restricted country; (b) genuinely comes from the country specified; (c) is included in official statistics; (d) is included or may be included with other documents.
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A statement signed by the exporter, or his agent, and attested to by a local Chamber of Commerce, indicating that the goods being shipped or a major percentage of them, originated and were produced in the exporter’s country.

Certification by the scheme actuary that in a contracted out salaryrelated pension scheme, certain liabilities are 100 per cent funded in accordance with the valuation method specified for the minimum funding requirement.

Reinsurance term meaning a limit that restricts the total sums insured ceded for a whole country or specified zone.

Cost and Freight means that the seller delivers when the goods pass the ship’s rail at the port of shipment and pays the costs and freight to take the goods to the port of destination. The buyer carries the risk of loss/damage during transit and therefore arranges cargo insurance.

Notes on a bill of lading showing that cargo was consolidated at one container freight station, transported to another station and deconsolidated at that CFS.

the traditional technique of reserving for future claims in general insurance business which compares the emergence of claims year by year for each underwriting year, to arrive at an ultimate loss estimate by applying development factors to losses already paid or incurred; the relevant data are set out in triangular arrays (whence the alternative term triangulation).

A method used in general insurance by claims reserving practitioners to estimate the loss development of outstanding claims. It involves calculating ratios of adjacent ‘ladders’ (columns of figures) in a table.

A proximate cause term referring to a sequence of events preceding a loss.
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If there is a Direct chain of events (one leading to the other) with no exceptions involved, the insured peril is the Direct and natural cause of the loss and there is liability. But if an excepted peril precedes the operation of the insured peril so that the loss caused by latter is Direct and natural consequence of the excepted peril, there is no liability. Broken chain of events : Where the chain of events is broken, without any excepted perils, and if it is possible to separate the losses, there is liability for losses caused by the insured peril. If the chain is broken by an insured peril, the subsequent peril breaks the chain, liability ceases for subsequent losses only.

The right of a supplier of an injurious product to recover the amount paid in damages from his own supplier. A retailer, liable under the Sale of Goods Act 1979 for product-induced injuries to a customer, may seek an indemnity under the Act from the relevant wholesaler or manufacturer who breached an implied term (fitness for purpose and satisfactory quality). However, as it is a nonconsumer contract an exclusion of these implied terms is permitted if the supplier can show that the exemption passes the test of reasonableness. In turn a wholesaler can look to the manufacturer for a Sale of Goods Act 1979 breach.