Insurance Policy
Travel Insurance
Basic Principles of
Claims Condition






What are the five steps of Methods to Manage Risk?


Shows the full name and address of the insurance company underwriting the Property insurance policy

What is Heading


Covers capital sums for death, loss of eyes or limbs or permanent total disability, temporary total disability or tempory partial disability

What are Personal Accident benefits


The intention of the parties to the contract is that the insured, on the happening of an event insured against, would be placed by the insurer in the same financial position that he occupied immediately before the event, subject to any limitation, which may have been agreed and written into the contract

What is Indemnity?


operates in the event of underinsurance the insurers will only be liable to pay a proportion of his loss, which is in keeping with the underinsurance involved.

What is the Average Clause?


The type of exposure that has two possible outcomes; loss or no loss.

What is Pure Risk?


covers the following points - that a premium has or will be paid and that the proposal form is the basis of the contract, and that the Insurers will give cover as stated.


What is the Preamble


covers expenses reasonably incurred for additional hotel and travel expenses, including those of any relative or friend necessarily required on medical advice to remain with or to accompany the insured.

What are Medical and associated Expenses?


The insured must stand in some relation to the subject matter, recognised by law, by reason of which he will benefit by its continued safety or be prejudiced by its loss

What is insurable interest?


makes allowance for disputes between the customer and insurer as it relates to the amount payable for a claim or matters relating to liability

What is Arbitration?


The possibility of loss or condition of being unprotected.

What is Exposure?


details the types of events/perils that the property insurance policy provides covers against

What is the Operative Clause


provides for reimbursement of irrecoverable deposits and payments made

What is cancellation or curtailment


It is an implied condition in all contracts of insurance that both the proposer and the insurer shall make full and complete disclosure of all material facts relating to the risk to be insured

What is utmost Good Faith?


Individuals used by  the claims representative    such as a loss adjuster, solicitors, surveyors, etc. to arrive at an amicable settlement

What are Third Party Service Providers


The type of exposure that includes the loss and no loss outcomes of pure risk, but adds a third possible outcome, that may financially gain.

What is Speculative Risk?


the instrument evidencing a contract.  It states the exact terms and provisions of that contract, in other words, the agreement made between the insured and the insurer

What is a Policy?


This section of the travel insurance insures the customer against:

Legal liability to third parties for damages or claimants' costs and expenses in respect of:

accidental bodily injury to, or disease contracted by any person;

accidental loss of, or damage to, material property

What is Personal Liability


It is the right of the insurer who has granted an indemnity to receive, after payment of a loss, the advantage of every right of the insured in contract or in tort, which may diminish the insured’s loss

What is subrogation


These refer to duties written in the contract.  They are usually found as the conditions in the policy document

What are express duties?


Is to be read in conjunction with the policy

What is a schedule


It is a promise by the insured which form a part of the contract that they will or will not do something, or that a specific state of affairs will continue to exist for the duration of the policy

What is a Warranty?


covers a daily benefit while the insured is confined to the hospital. This is provided in addition to any payment under the medical and associated expenses section for the cost of treatment

What is hospital cash benefit?


is concerned solely with the apportionment of liability between insurers in the event of double insurance, whereby each will pay their rateable proportion of a claim.

What is contribution


These are unwritten duties that are imposed by law

What are implied duties?