The scheme is controlled by the Criminal Injuries Compensation Authority, which administers compensation on the basis of common law damages to the victims of violent crime. The main awards are in respect of personal injury and fatal injury. There is no award for single injuries, such as a black eye. The 2001 scheme increased the level of awards, changed the formula for multiple injuries, extended eligibility to same sex partners and improved the presentation of the Tariff of Injuries (www.cica.gov.uk).

Trigger events or reference points underlying a weather derivative where the payout depends on the critical conditions occurring on any day in the contract period. A critical day may be each day the temperature exceeds 25°C. The amount paid is based on the number of critical days occurring during the period multiplied by the tick.

Pays out a tax-free lump sum if, during the policy term, the insured is diagnosed with any of a range of serious conditions such as cancer, heart disease, strokes and multiple sclerosis. Even when diagnosed, the insured may live for some time so necessitating the need for financial protection while undergoing treatment and recuperation. The policy can stand alone or be added to a whole life, endowment or term insurance.

Yield is the interest earned on a bond, or dividend paid on shares or a fund. In the pensions industry the term critical yield refers to the investment returns needed to provide pension income for executive pension plans, final salary scheme pensions, small selfadministered schemes, income drawdown and transfer value analysis system.