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.