Category Archives: E – Kerugian

Emergency 24 hour helpline

A service provided by insurers, often using third party service providers who are available to offer the customer in an emergency; advice, guidance and, wherever possible, put them in contact with a supplier who can help them in the circumstances. An example would be where there is an escape of water which is gushing out and the customer needs a plumber immediately. It is worth noting that the situation for which they are obtaining assistance may not be covered under the insurance policy and the customer will then be responsible for paying any fees and charges

Endorsement

When the insurer places on endorsement on the policy, this means that there has been a change to the cover and/or conditions of the contract with the customer. Endorsement can be applied at the inception of the policy, for example there may be a requirement to fit an intruder alarm which must be kept in proper working order and set whenever the home is left without a responsible person in attendance. Alternatively, they may be applied at a later date when for example, an event has occurred or more information has been made available which indicates that the customers insurance risks have increased

Environment

The external conditions that exist in the marketplace. The insurer will want to know what is happening in the environment, particularly in terms of their competitors or customer demands in order that they can identify the opportunities and threats and identify appropriate strategies to address them

Excess

The first part of the cost of a claim which the insured must bear and which will be deducted from their claim.
- A compulsory excess is one which the insurance company applies, for example ₤50, and where one is applied, this will apply to all types of loss covered by the policy.
- A voluntary excess is one chosen by the insured which is in addition to the compulsory excess. In return, the customer receives a discount or reduced rate of premium. This type of excess does not apply to the set excess for any particular section, for example subsidence, where the excess could be a ₤1000

Ex turpi cause rule

The rule means that an action cannot be founded on a bad cause as the courts will not assist a plaintiff who has been guilty of illegal conduct

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