Final link in a chain of events closest in time to the loss but not closest in efficiency. In Leyland Shipping Co. v. Norwich Union (1918) a torpedoed ship later sunk following a storm, the ‘last straw’, but the proximate cause of the loss was the torpedo damage. The insurer was not therefore liable as the policy excluded war risks. An undamaged ship would have survived the storm.

Life policy on two or more lives under which the sum insured is payable on the last death. They are used in connection with leases granted for the lifetime of two or more people. Policies are usually whole of life or endowment.