An independent inspectorate for the intruder alarm industry whose approval of an intruder alarm company is often mandatory if systems are to be accepted by theft insurers.

Promotes workplace pensions. Its priority is to ensure a regulatory and fiscal environment which encourages the provision and take-up of employersponsored pensions, as well as sound stewardship of pension fund assets. (Visit www.napf.co.uk).

A benefit payable in cash to a person insured under a private medical insurance, who is treated in the public ward of an NHS hospital. The cover applies if a medical specialist recommends particular hospital treatment covered by the policy.

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.