Annuity on two or more lives that ceases on first death.

Life insurance policy dependent on two or more lives that becomes payable on the first death. Policies may be whole life, endowment or term. See LAST SURVIVOR INSURANCE.

Fire surveys undertaken by two surveyors. Where a risk is very large and shared by two or more insurers (coinsurance), the lead insurer undertakes the survey but may involve the insurer holding the next largest proportion. One insurer may survey the building and the other surveys the contents. It may also occur where a fire surveyor is accompanied by a specialist surveyor (e.g. sprinkler leakage specialist). In other instances, the company surveyor may be accompanied by the broker’s surveyor.

Formed by the Aviation Insurance Office Association (AIOA) and Lloyd’s Aviation Underwriter’s Association (LAUA). It is mainly concerned with the drafting of wordings and clauses.

Two or more persons who are jointly and severally liable for the same tort. It means that the claimant can sue both (or all) of them or recover the whole of amount of any one regardless of the extent to which each participated. A tortfeasor held wholly liable for the damage has a right of contribution from other tortfeasors liable for the same injury/damage (Civil Liability (Contribution) Act 1978). Vicarious liability is a principal instance of joint tortfeasors.