Part of the UK social security ystem providing benefits in various forms, i.e., sickness, industrial injury, unemployment, pensions, maternity and death. Apart from contracting out provisions participation is compulsory for designated categories of people. The rates of contribution vary according to class but are standard within each class. Contributions are deducted from earnings in the case of employees whose employers also contribute.

A hazard caused by natural forces that may be climatic, oceanographic or geological in nature. Contrasts with man-made hazard.

Outmoded method of charging life insurance premiums. Each premium is related to the current risk of death and therefore increases year by year. At later stages the premiums often become prohibitive as there is no reserve or surrender value. It differs from assessmentism in that no allowance is made for expenses. The level annual premium system overcomes the problem of the natural premium system.

The risks arising when a vessel is navigating or at sea as distinct from the risks arising in port or when the vessel is laid up.
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The risks incidental to a vessel navigating or at sea, as opposed to those arising while the vessel is in port or laid up.