An insurance for less than 12 months. The premium charged is higher than pro rata.

Pension benefit which must be kept for an early leaver of a pension scheme in order to meet the preservation requirements of PSA93.

types of general insurance business in which claims are generally reported and settled within a short time after the occurrence (contrast long tail business).

Insurance business where it is known that claims will generally be notified and settled quickly. Contrast with LONG-TAIL.