1. Tracing service provided by Opra through Pensions Registry Scheme. It helps former pension scheme members track pension scheme memberships relating to earlier employment periods. Mergers and acquisitions over time may make tracing former memberships difficult for individuals. 2. DWP runs a tracing service to help schemes trace information on their deferred pensioners. 3. Employers’ Liability Code.

The International Underwriters’ Asssociation has drafted standard clauses for a number of trade associations to give them the comprehensive cover they require. The trades affected include: rubber, timber, coal, sugar and flour.

This term often appears as an insured item under the combined policies effected by small businesses. It may bring together in one sum stock, trade fixtures, fittings and machinery. An alternative is to cover stock separately while combining other forms of trade property into a single figure under the title trade contents.

Endorsements to reflect the requirements of a trade, or category of risk, within a particular trade. They may be restrictive or expansive. See RESTRICTIVE ENDORSEMENTS.

Foodborne illness damages the reputation and therefore income stream of restaurants and similar businesses. TNR provides protection and crisis management against the financial costs of: (a) foodborne illness business interruption; (b) adverse media; and (c) reputation crisis management.

A method of rating motor traders’ road risks policies. The insurer charges a flat rate for each set of trade plates. Cover is limited to vehicles carrying a set of specified trade plates. Alternative methods of rating: named plate basis and points basis.

Wastes of organic and inorganic origin discharged by industrial and commercial concerns. Organic wastes are discharged on a considerable scale by the food industries: canneries, dairies, breweries, abbatoirs and fish-meat factories. Other significant waste generator include paper-mills, tanneries, petro-chemical works, textile manufacturers and laundries. Inorganic wastes include acids, alkalis, cyanides, sulphides and the salts of arsenic, lead, copper, chromium and zinc. Underwriters concern themselves as to the methods of waste disposal used by firms as considerable pollution damage and cleaning up costs can arise. Any discharge of waste into the air, soil or water can create major problems not least for liability insurers. See also WATER POLLUTION.

Endowment policy that has been sold by the original policyholder to an investor before the policy matures. The policy is assigned to the new owner who pays all future premiums but who ultimately receives the policy proceeds. The insurer is notified of the assignment. The original owner ‘trades’ his policy when the market value exceeds the surrender value.

Trade’ in marine insurance means where the vessel navigates. Underwriters control navigation risks by means of the Institute Warranties.
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A set of warranties in a Marine Hull Policy dealing mainly with prohibition of a vessel entering specified hazardous areas.

Transfer of goods from one vessel or conveyance to another, often contracted for in ‘through’ bills of lading. The Transit Clause provides continuity of cover following any forced discharge, reshipment or trans-shipment or during any permitted variation provided the original destination is unchanged.