The onset of a terminal illness is treated under some life policies as an insured event. It means that the sum insured is paid prior to death.

In certain circumstances, e.g. war, the shipowner is able to terminate the contract of affreightment at a place other than the original destination. Provided notice is given to the cargo insurer and any additional premium paid, the goods are held covered until sold and delivered at the place of termination or during forwarding or delivering to the policy destination to a limit of 60 days after discharge at the final port.
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A clause in a cargo policy which continues the cover the adventure is terminated short of destination in circumstances beyond the insured’s control.

Under a voyage policy this is when the ship has safely moored at anchor for 24 hours at the stated port of destination. To prevent overlap with the succeeding policy which normally runs ‘at and from’, that policy is claused ‘no risk to attach until expiry of the previous policy. Under the ordinary form of cargo policy the risk terminates upon the goods being safely landed at the port of destination but account has to be taken of the clauses that normally extend the cover. See WAREHOUSE TO WAREHOUSE.

Indication on a slip that certain contract terms have to be finally agreed. Marine underwriters commonly accept the risk at a rate to be agreed although other aspects of the risks, e.g. commencement date, can be covered by the term. An alternative term ‘t.b.a. l/u’ means ‘to be agreed with the leading underwriter’.

Geographical limits within which the insured event or loss must occur. Example: A public liability policy applies to occurrences within Great Britain, Northern Ireland, the Channel Islands or the Isle of Man plus temporary visits overseas for manual or non-manual work. Cover may be subject to a jurisdiction clause.
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The geographical limits within which an insurance is stated to operate.

1. The Pool Re/HM Treasury definition for (re)insurance purposes is: ‘an act of any person acting on behalf of or in connection with any organisation which carries out activities directed towards the overthrowing or influencing of any government de jure or de facto by force or violence. 2. Terrorism Act 2000, s.1: an act of terrorism is any specified action, the use or threat of which is designed to influence any government or to intimidate the public in order to advance a political religious or ideological purpose. The specified actions are actions which: (a) involve serious violence against a person; (b) cause serious damage to property; (c) endanger a person’s life (other than the person committing the act); (d) create a serious risk to the health or safety of the public; or (e) are designed to interfere with or seriously disrupt an electronic system.
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The use of violence for political ends and includes any use of violence for the purpose of putting the public in fear.

Permanent UK-wide anti-terrorist legislation. It has a new definition of terrorism that applies to all kinds of terrorism.

From 2003, means: insurance, not exceeding 12 months in total and written as per the general cover to which it attaches, and otherwise in accordance with the Pool Re Underwriting Manual, to cover all losses subject to certain terms and conditions and excluded losses (war, including riot and cyberterrorism). The reinsurance cover is now ‘all risks’ (extended from fire and explosion) irrespective of the original policy perils. The direct insurer may still insert a terrorism exclusion limiting the scope of the cover obliging the insured to ‘buy back’ to the level offered by Pool Re. Insurers may now modify their definitions of terrorism. Previously insurers linked terrorism with acts for political, religious, ideological or similar purposes’. Pool Re’s definition links only to organisations seeking to overthrow governments. Cover offered by companies will come into line with that offered by Pool Re.

US statute to stimulate a competitively priced insurance market for terrorism insurance cover prompted by the events of 11 September 2001.

Means that a trader who uses an exclusion clause has to show that it is ‘fair and reasonable’ (Unfair Contract Terms Act 1977). The court decides but, under the test, considers whether the clause can be shown to be ‘fair and reasonable’ considering the circumstances known to the parties at the time the contract was made. It considers the bargaining strength of the parties and other relevant circumstances.