ABI - An acronym for the Association of British Insurers
- the regulatory body for the UK insurance industry.
Accidental damage cover - Insurance that protects against
damage to goods rather than loss or theft. Not always included as
part of motor cover, but sometimes applies to vehicle contents,
it will replace possessions that are stolen or damaged, but it doesn't
protect against more minor hazards.
Act of God - An accident or event which happens independently
of human intervention, usually due to natural causes such as storm
or earthquake, which no human foresight can provide against. Suggesting
that an event was an "act of God" may be a defence in English law
against a claim for liability since it may be held that it could
not have been foreseen or safeguarded against. One of the reasons
why it can be inadvisable to drive your vehicle in adverse or dangerous
weather condtions
Addendum - An addition or change to a contract.
Agent - Someone who acts on behalf of another. Traditionally,
insurance company salesmen have often been called agents. This has
led to a certain amount of confusion since in some situations they
are acting on behalf of the client and at other times they are acting
on behalf of the insurance company.
All risks - An insurance policy that covers all risks -
except those not listed under its exclusions.
Annual policy - An insurance policy that applies all year
round rather than any other period such as a holiday or car hire
period.
Any driver - Insurance that allows anyone to drive a vehicle,
not just the owner, so long as they have permission to use the car.
Approved repairer - A panel of repairers, usually throughout
the whole country, who the insurance company recommend to repair
your car.
Arbitration - A means of arriving at an acceptable agreement
between two disputing parties. An independent person or body, often
a member of the Institute of Arbitrators, hears the arguments of
both parties and makes a decision that is then binding on all concerned.
Association of British Insurers - An association representing
some 450 insurance companies which account for over 95% of the business
transacted by UK insurance companies. It is also the forum through
which UK insurance companies collectively liaise with Government
Departments and other bodies and come together to set industry standards
and codes of practice.
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