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.