Cover for legal costs and expenses incurred in pursuit or defence of civil actions against third parties resulting in physical damage or interference to the property and/or pecuniary loss. Cover is available for both individuals and businesses separately or as a part of a general legal expenses cover. A Buy-To-Let version of cover is available.

Package policy incorporating ‘standard cover’, with optional add-ons, for commercial property investors. The policy takes account of the particular needs of such investors by way of special features, e.g. full cover on vacant premises, subject to security; automatic cover for newly acquired premises and alterations and improvements to existing premises; lock replacement. Employers’ liability and property owners’ liability form part of the standard cover with legionellosis liability as an optional cover.

Covers the legal liability of the owner of property to third parties sustaining injury or property damage.

Public liability exclusion of the insured’s legal liability for damage to ‘that part of any property being worked on where the loss or damage is the direct result of such work. The intention is to exclude defective workmanship and the clause effectively operates as an excluded form of loss and not an cepted risk because any consequential damage will be covered.

UK: any form of reinsurance whereby the reinsurer participates proportionately in the premiums receivable and claims payable by the cedant.
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REINSURANCE,REFERENCE: See: Quota Share, Pro Rata Reinsurance, Surplus Reinsurance.
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UK: The cedant and the reinsurer share the risk in agreed proportions, either fixed (quota share treaty) or variable (surplus treaty) based on the ceding office’s retention and the sum insured. The reinsurer shares proportionally the premiums earned and the claims plus certain expenses incurred by the ceding office. Proportional reinsurances may be arranged facultatively or by treaty and they may include: quota share reinsurances; surplus treaties; facultative/obligatory treaties; reinsurance pools.

UK:A form completed by a party seeking insurance. It enables the insurer to assess the risk, prepare the policy, and set up the administration. See BASIS CLAUSE.
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A questionnaire prepared by an Insurer to elicit details about proposed Insurance cover. It is a format designed to elicit all information necessary for a proper evolution of the risk and for rating. Questions asked fro according to the type of Insurance. Except in Marine cargo insurance, proposal forms are used in all classes of insurance, in which the proposer is required to answer questions. This form incorporates a declaration to the effect that the answers are warranted to be true and complete and shall form the basis of the contract. A typical declaration is worded as follows: “I/We hereby warrant that the above statements and particulars are true and complete, and I/We have not concealed, misrepresented or suppressed any material fact and I/we agree that this proposal and declaration shall be the basis of the contract between me/us and the Company and I am/we are willing to accept the policy subject to the terms, exceptions and conditions prescribed by the Company therein.” Wording may vary among different form but the legal effect of this declaration is to convert representations into warranties, that is to say, any incorrect or inaccurate answers to a question on the proposal form will render the contract voidable at the option of the insurer, irrespective of the fact whether it is material to the risk or not. The answers are required to be literally true and absolutely correct.
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UK:standard form used in most classes of business to elicit basic information about the proposer and the risk for which cover is sought.

UK: a person who makes a proposal for insurance.
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One who makes an offer to enter into a contract of Insurance-the prospective insured.
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UK: The prospective insured, i.e. the party proposing to effect an insurance, by the completion of a proposal form.

Insurance companies constituted under the Companies Acts or by Royal Charter. The proprietors of a company are the shareholders who have supplied the capital. They look to the directors and officers to manage the company and safeguard its assets.
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Companies owned by shareholders.

company owned by shareholders (contrast mutual).