incendie, accidents et risques divers; meaning fire, accident and other risks, the French equivalent of general insurance.

Following the 1995 Kuala Lumpur conference the IATA Inter-Carrier Agreement (IIA) waived limits on liability for injury to passengers. Subsequently, the IATA Implementing Agreement (MIA) waived the defence in Article 20 (all necessary measures to avoid the damage had been taken, etc.) of the Warsaw Convention up to 100,000 SDRs but the original Article 22 limits should remain in respect of public liability insurance or similar bodies. All UK carriers are required through their air transport licences to increase their limits to 100,000 SDRs. See INTERNATIONAL AIR TRANSPORT ASSOCIATION and EU REGULATION 2027/97.

incurred but not reported, referring to potential claims where the incident giving rise to a claim has or may have occurred but has not been reported to the insurer or reinsurer.
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See: INCURRED BUT NOT REPORTED.

the FSA’s Insurance Conduct of Business Rules, relating to the business processes involved in selling and administering non-investment insurance.

Clause stating that the policy and schedule will be read together and that any word or expression to which a specific meaning has been attached shall have the same meaning wherever it appears.

Occurs when a pension scheme member in poor health retires early. The pension may be higher than the amount that would have been achieved by an early retirement for other reasons.

A life, pensions or investment estimate given in respect of the returns a person might get on their contributions or investment. It usually shows the expected outcome for different levels of be growth. The actual returns may higher or lower than the estimates provided. The illustration is an ‘invitation to treat’ not an offer.

International Marine Bureau’s centre started in 1992 following the growth in piracy on the oceans. It maintains a round the clock daily watch and, working with law enforcement, reports suspicious shipping movements, piracy and armed robbery at sea anywhere in the world. It publishes information on the Internet that puts ships’ masters on the alert. Weekly piracy report and other details can be viewed on www.iccwbo.org/ccs/ menu_imb_piracy.asp. See PIRACY.