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5 Introduction To Specific Policies
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Published:March 2008
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Abstract
In Section 2 readers will find a description of the main insurances they are likely to encounter. In most cases the description is in general terms as wordings and the structure of policies vary between Insurers. In a few cases (consultants professional indemnity and D&O) the text does focus on a specific wording but otherwise the approach is generic. We have endeavoured in each case to give a complete description of each policy type; at the risk in some cases of stating or repeating the obvious. In this Section there is also a description of captive insurance which is not strictly a type of cover but an alternative method of financing risk. Typically policies comprise a set of standard terms with a schedule setting out the terms specific to the actual contract. Standard terms may include optional extensions, in which case the schedule will normally indicate which extensions are effective.
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