1. A period beyond the expiry of an insurer’s liability policy during which the insurer remains liable for losses that occurred during the policy period. See LONG-TAIL. 2. In the context of claimsmade policies ‘tail’ means an extended reporting period or discovery period.

a factor applied in a link ratio projection, to arrive at a loss estimate where the claims business may deteriorate beyond the point for which there is historic data, for example where the oldest year is, say, 10 years old but it is appropriate to assume that the ultimate loss will be higher than the year 10 loss.

Marine cargo term referring to the last packages to be discharged which total an insufficient number to reach the agreed ‘series’ for the application of a franchise or a deductible.

Damage to cargo the result of being stowed close to other cargo that has adversely affected it.