A place where disputes are heard. It usually refers to the particular court or courts having jurisdiction in the matter.

Provides a forum for the exchange of information between lawyers acting predominately or exclusively for insurance clients (except legal expenses insurers) either practising within firms of solicitors, as barristers, or as in-house lawyers for insurers or self-insurers. FOIL is also an active lobbying body on matters concerning insurance litigation.

The court of the country in which the thing or person, the subject of the action, is situated. See FORUM SHOPPING.

The selection by a claimant of a country where he prefers his action to be heard. If a choice exists the claimant ‘shops around’ to select the country where he is most likely to win or secure the highest award. Many UK liability policies exclude US jurisdiction.

A privately arranged contract that specifies the price for a transaction in the future. It differs from ‘futures’ in that it is not standardised and is not traded on organised exchanges. Each party bears the other’s credit risk.
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An agreement for insurance to come into force at some future date.

Institute Cargo Clause 12. Where, as a result of an insured peril, the transit is terminated short of the destination, the underwriter will reimburse the insured for any extra charges incurred in unloading, storing and forwarding the goods to their destination. The clause does not apply to general average or salvage. Forwarding charges due to insolvency or financial default are excluded.

Seller pays all charges and loads goods on truck or rail, retaining the risk of damage until delivery to the carrier or railway agent. The buyer is responsible after such delivery and for further charges including insurance.

CII’s starting point for newcomers to general insurance under the banner Award in Insurance. The single-subject course provides a basic understanding of how the market works, fundamental risk and insurance principles and procedures, and core personal and commercial insurance products. After completing FIT, candidates can proceed to the next general qualification, the Certificate in Insurance.

Fire Insurance clause that provides that the value of the foundation (any part of the building below ground level) can be excluded from the buildings sum insured and is not to be included when determining the value of property at the time of a loss. The clause is used when it is considered that the foundations would not be affected by a loss.

Became law in the UK in January 2003. Principal aim is to improve the claims process for EU residents when claiming against an insurer based in another EU state. The UK’s response is the Motor Insurance Database which, on being given the vehicle registration number of the third party, will be able to trace the third party’s insurer.