An annuity that must be purchased with funds from a personal pension or an occupational pension scheme to provide a retirement income by age 75. See AGE 75 RULE.

A combined liability policy for computer consultants not engaged in manufacture, installation or servicing of hardware covering: professional indemnity insurance, public and products liability and employers’ liability.

Covers ‘all risks’, theft and breakdown included, puter and ancillary equipment. Chips and standard software are included autocommatically. Other key features: ‘new for old’ settlements; cover in UK premises and in transit; negotiable excesses; loss of data; Data Protection Act liability; and consequential loss following an insured breakdown or loss. Liability insurance may be included. Exclusions are minimal but special precautions have to be taken when computer equipment is left in an unattended vehicle. Policies may apply to personal computers, laptops and mainframe systems. (See Figure 4). See INTERNET LIABILITY INSURANCE.

Insured as ‘contents’ under commercial material damage policies up to £10,000 in respect of the material costs and the cost of reproducing them. Liability for loss of such records is similarly insured under ‘Loss of Documents’ cover for computer consultants.