Personal Accident
Insurance providing fixed benefits in the event of death or loss of limbs or disablement as a result of an accident, not illness.
Personal Accident & Sickness
Insurance providing fixed benefits in the event of death or loss of limbs or disablement as a result of an accident or sickness.
Personal Liability
The insurance of an individual's liability to third parties - think public liability except it doesn't cover any business or motor related matters. Usually included automatically within a household insurance policy.
Pluvius Insurance
Insurance against losses arising from adverse weather conditions i.e. heavy rain resulting in the cancellation of an outdoor event.
Prizm Solutions Ltd
An ethical, professional and environmentally friendly insurance brokerage.
Pro rata
In proportion i.e. 6 months cover is charged at 50% of the annual premium.
Product Recall
A form of liability insurance which covers the costs of recalling a product if it has been tampered with or has been found to be dangerous or defective.
Products Guarantee
A form of liability insurance which covers the failure of a product to fulfil its intended function.
Products Liability
An extension to Public Liability insurance which covers a producer (or supplier or manufacturer or tester or servicer) of goods for their liability arising from loss or damage caused by the goods.
Professional Indemnity
A type of liability insurance which provides indemnity to professional firms against legal liability arising from a breach of duty.
Pub Insurance
A term for a package insurance policy designed for public houses & similar venues which can include many different types of insurance such as employers liability, public & products liability, property, money, loss of profits, personal accident, goods in transit & loss of licence.
Public Liability
Insurance in respect of accidental bodily injury or damage to third parties or their property. Usually arranged in conjunction with (and frequently confused with) employers liability insurance. Not compulsory in UK, but a basic requirement for most businesses.
Replacement as New
A definition under property insurance whereby the insurer pays the costs of replacing the item without any deduction for wear & tear.
Riot
A specified peril covered under a material damage policy. It is very strictly defined & in England and Wales means 'participation of 12 or more persons threatening or using violence for a common purpose'.
Road Risks
A specialist form of Commercial Motor allowing persons engaged in the motor trade to drive their own & customers vehicles.
