An accident that could not have been avoided by the exercise of ordinary care, caution and skill. It therefore amounts to a defence against claim of negligence or refers to a situation where negligence cannot be proved against the defendant.
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An inevitable accident is an accident which occurs in spite of this exercise of ordinary care, caution and skill. The defendant has to prove that the accident could not have been avoided.

Clause in a business interruption policy to protect the insured against interruption due to infectious and contagious disease (AIDS is not covered), discovery of vermin at the premises, closure by a competent authority due to defective drains and sanitation, murder or suicide, or food poisoning affecting persons at the premises. This extension is particularly relevant for public access risks such as hotels, etc., and will cover cancellation of bookings due to an outbreak of notifiable infectious or con gious diseases in the area.

Easily set on fire. Any property which by its presence increases the risk of fire is inflammable. It has to do with the inherent nature and qualities of the goods.

The risk that significant increases in the inflation rate will have a disproportionate effect on insurers, e.g. the inflation factor built in to long-tail liability claims may outweigh the general economic level of inflation. Inflation is also of importance in health and medical insurance as the claims inflation may be higher than economic inflation.

Created out of the 1995 merger between Lloyd’s of London Press Ltd and IBC Ltd. The previous publications, Lloyd’s List, Lloyd’s Shipping Index, Lloyd’s Casualty Week are now part of the Informa Group’s family of products and services. The website www.infformamaritime.com sets out comprehensive details. See LLOYD’S MARINE INTELLIGENCE UNIT.

Insurance against legal liability for inadvertently infringing a copyright, patent or trademark.

Aircraft damage caused when foreign objects (e.g. stones from runway, birds) are drawn into the airtake by the suction of the engine and rotate around in contact with the rotating compressor blades. The risk applies mainly to turbo-jet and turbo-propeller engines. Even slight damage necessitates completes stripping of the engine. The aircraft policy covers the damage subject to a sizeable excess but excludes progressive deterioration. Cover responds to sudden damage necessitating immediate repair.
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Damage caused by foreign bodies being drawn into the air intake of the turbine engine of an aircraft.

A UK tax on capital wealth or assets transferred to other persons (except a spouse) within the seven years preceding the benefactor’s death. There are certain exemptions from IHT, e.g. gifts out of income; gifts to support certain relatives in need. Life insurance is used to both minimise and pay the tax. Liquid funds from a policy obviates the forced disposal of assets to fund the tax liability. The first £255,000 is in a ‘nil rate’ tax band (2003).

any part of a life insurer’s assets which is not required for smoothing purposes or to pay terminal bonuses; sometimes referred to as ‘orphan estate’.

An important interference with the environment caused by a modification of the physical, chemical or biological conditions of water, soil and/or air in so far as these are not to be considered to be damage to property or death or physical injury. The authorities seek to make the polluter pay on a strict liability basis for this and other forms of injury and damage.