A ‘campaign’ joined by a number of insurers to combat criticism that policies are written in almost incomprehensible language. These insurers endeavour to use language their policyholders regard as easier to understand.

A policy without clauses attached like the defunct S.G. (ship and goods) form used by Lloyd’s from 1799 until 1983. It remained in use because all of its words and phrases had been defined in the courts. The current MAR form expresses the agreement to insure and adds detailed cover through the Institute Clauses.

Risk financing whereby the business treats losses as normal operating expenses recovered through the prices charged for their products or services. The risks are not assumed unwittingly. The method is appropriate for low impact high frequency losses.

Boilers, pressure, lifting equipment, etc., are all subject to statutory inspection at preset intervals. Insurers provide these and other inspection services in respect of: boilers and pressure vessels; lifts; cranes and lifting plant; and electrical and mechanical plant. Risks covered: sudden and unforeseen damage including the key perils of breakdown, explosion and collapse; and working environment risks such as operator error, frost fracture, overheating and collision. Other risks covered: malicious acts; loss or damage to surrounding property through explosion or fragmentation. Cover can be extended to cover engineering consequential loss caused by damage to plant and machinery.

A category of marine hull policies covering various forms of watercraft used for private purposes. Types of vessel include: yachts, including sail boats; outboard motors; and jet skis. The basis of cover is usually hull and liability.

Premises occupied by a number of different tenants. The situation may present fire hazards due to: 1. Trades of widely different character under one roof. 2. Different standards of cleanliness. 3. Frequent changes of tenants without notice to the insurer. 4. Poor upkeep of fire extinguishing appliances in the absence of clear responsibility. 5. Risk of insecure and badly kept heating appliances in some parts of the building. If there is no fire division between the individual risks, the rate for the whole is fixed by reference to the highest-rated tenant.

This exists when a fire insurance covers more than one building or range of buildings each with its own separate sum insured.
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There is said to be plurality of risk where a fire insurance policy covers more than one location or set of property.