A liability policy clause indemnifying the insured against his own defence costs if incurred with the insurer’s consent. These costs are borne by the insurer in addition to damages and claimants’ costs tha are subject to the specified limit of indemnity. The legal costs form a part of the indemnity limit only if the limit is costs inclusive.
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The extension of a liability insurance to provide for the payment of the insured’s legal costs in litigation other than the defence of the insured against claims arising under the liability insurance (which costs are commonly covered by the insurance in any event).

An insurance for individuals, families and businesses to enable them to meet the cost of defending or pursuing certain civil actions. Cover is also available for defending prosecutions and allowance is made for attendance expenses in connection with court hearings or similar proceedings. See COMan MERCIAL LEGAL EXPENSES; MOTOR LEGAL EXPENSES.
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A group form of insurance which provides members with legal services paid for on a schedule basis. Similar to Dental Insurance.

Person who administers the estate of a deceased person. If nominated in a will, the person is an executor. A person appointed by the court is an administrator. As personal actions survive the death of a person, liability policies indemnify the insured’s legal personal representatives.
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The executor or administrator of an estate.

Infections caused by legionella. Legionnaires’ disease is a lifethreatening form of pneumonia caused by legionella pneumophila bacteria. The business risks are: closure during outbreak investigation; clean up costs; claims from employees and third parties; business interruption when nearby attraction closes due to outbreak. Property owners may suffer void periods and lower rents. Relevant statutory requirements include HSWA and Management of Health and Safety at Work Regulations 1992. Insurance solutions include business interruption cover, clean up costs cover and legionellosis liability.

A claims-made policy covering liability for third party injury caused by legionellosis arising out of the business. The risk arises from recirculating hot and cold water systems. Insurers regard third party claims as ‘gradual pollution’ claims and thus exclude them under public liability insurance. Cover is granted under legionellosis liability cover. The employers’ liability policy responds to legionellosis claims as specific diseases cannot be excluded under this compulsory form of insurance.

A document issued by a bank, at the buyer’s request, guaranteeing payment to the seller upon receipt by the bank of shipping and documents validating the delivery of goods. L/Cs are also used on a ‘standby’ basis to secure recoverables from non-admitted reinsurers to enable the cedant to reduce its provision for unauthorised reinsurance in its statutory statement.

York-Antwerp Rules that are prefixed by a letter rather than a number. The lettered rules apply only when it is impossible to apply the numbered rules.
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Those of the York-Antwerp Rules that are prefixed by a letter as distinct from a number. The lettered rules are applicable only in circumstances to which it is impossible to apply the numbered rules.

Life insurance premiums are the same amount each year and do not increase as age increases. The premiums charged in the early years are more than sufficient to cover the mortality risk and so contribute to a reserve. In later years the reserve is used at a time when the level annual premium is insufficient to cover the mortality risk.

1. General levy is paid by all occupational and personal pension schemes covered by the Pension Scheme Registry. The amount depends on the number of members. This levy funds the Registry, the Pensions Ombudsman and Opra, including grants made by Opra to OPAS. 2. The compensation levy is a part of the levy paid by the occupational pension schemes eligible for compensation. It pays the compensation and expenses of the Pensions Compensation Board.

Four distinct stages apply to liability claims. 1. The cause (e.g. spillage of toxic chemical onto grazing land) the initial act. 2. The effect (cows ill after grazing ) – the occurrence. 3. Discovery of injuries – the manifestation. 4. Action the making of a claim. The sequence may be lengthy or virtually instantaneous e.g. workman burns down a house. Any one stage may be used to trigger a claim. Public liability policies are usually occurrence policies, i.e. the injury/damage must occur within the policy period regardless of the time of the initial act or of the claim. In long-tail disease claims and gradual pollution many years may separate the ‘occurrence’ from the ‘manifestation’. Professional indemnity insurance is ‘claims-made’, a stage 4 trigger. See OCCURRENCE TRIGGER THEORIES; TRIPLE TRIGGER THEORY. See Figure 5. – –