Clause automatically increasing sums insured on property during stated periods that reflect seasonal factors.

UK: A risk or an increase in risk that attaches during only a part of the year.
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A risk that is present only during certain parts of the year. For example seasonal dwellings such as cottages used for vacations.
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A risk that only exists during a particular time of the year.
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A risk which is present only during certain parts of the year. Examples might be manufacturing concerns such as canners who have operations only during the summer and seasonal dwellings such as cottages used for vacations.

The reasonable fitness of a vessel in all respects to encounter the ordinary perils of the contemplated voyage, properly crewed, provisioned and equipped. Seaworthiness is implied in voyage policies, but not in time policies. A shipowner’s right of claim under a time policy is prejudiced if he knowingly goes to sea in an unseaworthy condition. Cargo policies waive breach of the warranty except where the insured is privy to the unseaworthiness.

Cargo clause whereby the insurer admits that no claim will be repudiated on the grounds of unseaworthiness. The clause does not prevent the insurer from proceeding, in the name of the insured, against a carrier who is liable for the loss. The clause also ensures that the insured is not prejudiced by the carrier’s wrongful act.

A policy that contributes to a loss only when the loss exceeds the sum payable by a more specific insurance. See AVERAGE/TWO CONDITIONS OF AVERAGE.
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Insurance that covers only a loss in excess of that covered by a first loss insurance.

A supplementary treaty to a first surplus treaty. Cessions may only be made to the second surplus after the capacity of the first treaty has been satisfied.

Exposure to risk indirectly through association with a person more directly exposed. Mrs Gunn died of mesothelioma caused by inhaling asbestos dust from her husband’s working clothes (Gunn v. Wallsend Slipway & Engineering Co. Ltd (1989)).

A commission taken by an agent without the consent of his principal. It is a breach of good faith and the agent forfeits his rights against the principal. An employee who secretly accepts a commission on his employer’s insurance commits a crime (Prevention of Corruption Act 1906).

An insurance policy, taking its name from the Finance Act 1981, s32, into which pension scheme leavers may transfer their preserved benefits.