Any ambiguity in contract wordings is construed against the drafter of those wordings.

The clause in a policy which sets out the circumstances in which the insurers will make claim payments.

Similar to a Loss Adjuster (see below) but may just do Motor Claims and is not necessarily independent and is not a member of the Institute of Loss Adjusters.

The value of the improvement in insured property when it has been repaired, or replaced after a loss.

A professional full-time independent agent or intermediary.

A document issued by an insurer which is used to certify that cover is in force.

A form of insurance whereby more than one insurer carries the risk and where each is individually and proportionally liable to the insured for settlement of a claim.

The payment made to intermediaries by insurers for placing business with them. Also referred to as brokerage.

The part of a country's legislation built up from customs and usages which have been recognized by its courts and thereby given the force of law.

A policy covering a wide variety of perils. Also known as Multi Peril.