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Definitions (64)
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Authorised Person
A company or person that has been approved by the Financial Conduct Authority (FCA) to carry on out one or more FCA regulated activities.
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Accident year
The accounting year in which a loss has occurred.
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Act of terrorism
An act, including but not limited to the use/or planned use of force or violence and/ or the threat of any person or group of persons whether acting alone, or on behalf of, or in connection with a [..]
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ADDITIONAL PREMIUM
A further premium payable by the insured as a result of a policy update or amendment, that may increased the risk exposure or and in turn change the policy conditions sum insured.
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Annual premium
The amount you are quoted by an insurance provider to cover the risk you have been supplied with, inclusive of all insurance taxes (Insurance Premium Tax - IPT).
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assured
Another terminology to describe an insured person.
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Broker
A broker is an independent intermediary who markets various types of products and policies which are in turn arranged through different underwriters/insurance companies.
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CANCELLATION
The Termination of a policy before it is due to expire usually provide with a 14 day cooling of period allowing time to absorb what you have contracted in for.
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certificate of insurance
An insurance validation certificate issued by the issuing agent which describes you and the Insured person(s) who are covered under this policy.
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claim
An accident Injury or loss to the insured person which results in liability to the insurer under the policy it has issued on its behalf.
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