The age at which an income protection payment comes to an end.

the commission paid by a reinsurer to the ceding company, in recognition of the acquisition costs borne by that company.

An insurance company buying reinsurance cover by ceding part of its business to ne reinsurer under proportional reinsurance. The term is also used more informally to describe a reinsured entering into excess of loss treaties.

Subsidiary of the Society of Lloyd’s established in order to make reinsurance available to underwriting members participating in runoff syndicates and underwrite estate reinsurance protection.

The CII’s ‘core’ level qualification suitable for those entering the industry and gaining the essential basic knowledge of the market, key disciplines and products. Six units accumulating a 40 credit threshold achieve a pass and the entitlement to use the designation ‘Cert CII’. Candidates are also able to proceed to the Diploma in Insurance, subject to continuing professional development requirements, gaining recognition for their accumulated credits.

Examination-based qualification awarded jointly by the CII and the British Computer Society for insurance professionals seeking a greater awareness of potential IT applications in the insurance industry. The award gives credit towards other CII qualifications and the BCS Professional Examination.

Confirmation by an employee that he is not a member of an occupational pension scheme and is eligible to pay into a personal pension scheme.

The policy issued by a Protection and Indemnity Club when a vessel is entered in the club.
***
A policy issued by a Protection and Indemnity Association in respect of a vessel entered in the Association.