Marine cargo clause providing that in the event of loss/damage to any part of a machine carried as cargo, the sum recoverable will not exceed the cost of replacing and fitting including forwarding charges. This avoids a possible total claim on a machine simply because a particular replacement part is not obtainable.

Specific ‘working’ excess of loss cover. The reinsured must report’ each and every risk in the account (usually cargo) that exceeds the excess point in the contract. The reinsured pays a premium on the amount of the exposure above the excess point at an agreed rate or percentage of the reinsured original rate.

Regulations requiring employers and the self-employed to report specified occupational injuries and diseases to the HSE. These include fatal accidents, accidents causing major injuries or more than three days’ absence from work, work-related diseases and dangerous occurrences.

The risk that relates to the organisation’s reputation and public perception of the organisation’s integrity, efficiency and effectiveness. The principal response is reputation risk management but indirectly most forms of property and business interruption are important in helping a firm to sustain its presence and therefore reputation. See TRADE NAME RESTORATION.

This is part of the culture and processes that are directed towards the effective management of potential opportunities and threats to the organisation achieving its objectives through maintaining and enhancing its reputation. The processes will involve preparing business continuity, crisis management and disaster recovery plans, and a sound communication plan designed to work with the media and other stakeholders. Case histories show that companies who demonstrate an ability to overcome a crisis actually enhance their reputation and share value.