Provide that the acquirer of a business takes over the employees involved on their existing terms and conditions so that they can sue the new employer as if still employed by their original employer. Liability for accidental injury is also transferred but the insurer who pays is the one receiving the premium at the time of the accident (Bernadone v. Pall Mall Services (2000) and Haringey Health Care Trust v. NHS Trust).

Guidance published in 1999 to assist the directors of UK listed companies in complying with the internal control requirements of the Combined Code on Corporate Governance to which ‘Turnbull’ is appended. Includes guidance on risk management related to operational risk and compliance risk as well as financial risk. See CORPORATE GOVERNANCE.

The monetary value of sales in a period of time. The figure reflects the level of activity in a firm or organisation and may be used to measure exposure as in products liability. See ADJUSTABLE POLICIES; STANDARD TURNOVER.
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The money earned for goods supplied or services rendered in the course of the business at the premises specified in the policy.