Any person holding a licence to run a riding establishment must have public liability insurance. The insurance indemnifies the licensee against legal liability for any injury sustained by any person who hires a horse or who is being instructed. The insurance must also cover the liability of the insured and hirer for third party bodily injury.

Brussels-based network created by a consortium of mainly European reinsurers and insurers. RINET was a part of the merger that formed WISe in 1999. Insurance electronic

Needs five elements: (a) it must involve at least 12 persons (three at common law, 12 by the Public Order Act 1986 making it a criminal act); (b) all must have a common purpose; (c) there must have been an inception or execution of that common purpose; (d) they must intend to help one another by force if necessary against any person who may oppose them in the execution of their common purpose; (e) force or violence must be used in such a manner as to alarm at least one person of reasonable firmness and courage. This definition originated in Field v. Receiver of the Metropolitan Police (1907). Riot is often insured as an additional peril (linked with malicious persons) under property insurances.
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One of the extended coverage perils, related to, but broader than, civil commotion.

Any person suffering riot damage can claim compensation from the police authority but only to the extent that the compensation exceeds an insurance claim. Insurers who have paid a claim can exercise subrogation rights against the police in their own name.

Riot has an exact legal meaning. Riot and civil commotion are mentioned in the operative clause of the standard fire policy as excluded perils. Cover can be obtained as an additional peril, sometimes linked with damage caused by labour or political disturbances or vandals or malicious persons.

Group of perils added to a fire policy. Damage caused in these ways embraces fire damage and other forms of damage, e.g. wrecking and looting, but not losses caused by war and allied perils. The insured must give notice of claim within seven days to assist the subrogation rights of insurers in their claim against the police authority under the Riot (Damages) Act 1886 that allows 14 days for the particulars of the occurrence to be notified. The normal riot wording restricts damage caused maliciously to damage caused by malicious persons acting in connection with any political organisation. See MALICIOUS DAMAGE; TERRORISM.

UK: (1) the possibility of adverse deviation from the predicted outcome of underwriting; (2) the peril or adverse contingency insured.
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US: (1) Uncertainty arising from the possible occurrence of given events. (2) The insured or the property to which an insurance policy relates.
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(i) Possibility of loss or exposure to loss, (ii) Probability or chance of loss, (iii) Peril which may cause loss, (iv) Hazard, or condition which increases the likely frequency or severity of loss. (v) Property or person exposed to loss, (vi) Potential rupee amount of loss. (vii) Variations in actual losses. (viii) Probability that actual losses will vary from expected losses. (ix) Psychological uncertainty concerning loss. (x) Concise Oxford Dictionary: Risk, hazard, chance of bad consequences, loss etc., ; exposure to mischance (xi) Chamber’s English Dictionary: Risk: hazard, danger, chance of loss or injury, the degree of probability of loss, a Person, thing or factor likely to cause loss or danger (xii) ISO 31000 – standard prescribed by the International Organization for Standardization defines “Risk” as the effect of uncertainty on objectives, whether positive or negative.
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MEDICAL, US: 1. Possibility that revenues of the insurance company will not be sufficient to cover expenditures incurred in delivery of medical services. 2. Probability of loss in a given population.
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UK: 1. The possibility or chance of harm, injury or damage. It is influenced by hazards present in a situation. Some definitions distinguish pure risks (the outcome is ‘loss or no change’) from speculative risks which range from ‘loss to gain. A distinction is also made between insurable and uninsurable risks. 2. A risk may also be the subjectmatter insured or the peril insured against. 3. An insurance company’s risk is uncertainty regarding the cost of a particular claim and depends on the underwriting risk and the timing risk or both. See RISK ANALYSIS.
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A term used to refer to the person, organization, or thing that is insured. This term can also be used to refer to the outcome of an event, which cannot be predicted, when more than one possible outcome exists.
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US: The chance of loss. Also used to refer to the insured or to property covered by a policy. (2) Any chance of loss. (3) A term used to refer to a person or the peril insured.
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This term may variously refer to – (a) the possibility of some event occurring which causes injury or loss; (b) the subject-matter of an insurance or reinsurance contract; or (c) an insured peril.
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Uncertainty concerning loss. Sometimes also used to refer to a piece of business or a submission to an insurer.

Systematic use of information to determine the probability of an occurrence and the severity of its consequences. This leads to informed decisions as to how particular risks should be managed. Risk mapping facilitates the process.

1. Collective reference to: risk identification, risk analysis and risk evaluation, i.e. an overall process in risk management. 2. Legal requirement under health and safety regulations. See MANAGEMENT OF HEALTH AND SAFETY AT WORK REGULATIONS 1999; COSHH.

An informed decision to accept the likelihood and consequences of a particular risk. This is planned risk assumption. A supermarket chain may choose to carry the risk of loss or damage to plate glass windows given that it has a spread of risk and the maximum possible loss is small relative to their resources. Deductibles and self-insurance are forms of risk assumption.