Category Archives: I – Kerugian

Index linking

The practice of linking a value to a defined index of numbers, such as the Retail Price Index (RPI) in order to preserve its real value. In the UK, rises in pensions and wages are often linked to the RPI. Insurers reflect the change in market values based on the RPI


Indemnity is the financial compensation sufficient to place the insured in the same financial position after a loss as they enjoyed immediately before it occurred. The indemnity figure is a consideration at the claims settlement stage. A deduction is mode for wear and tear except for items that can be economically repaired where the cost of repair will be paid


An injunction is the primary remedy in an action for nuisance and its objective is to force the defendants to cease the nuisance or limit it to certain times

Independent liability

Under the ABI Claims procedures Part 4, s.4. this is the ability of an insurer after the application of average and of proportional, percentage or monetary limits, and excesses

Independent liability method

This relates to a situation where a claim is notified and contribution applies as two or more insurers have insurance policies covering the item(s) being claimed for. The independent liability methods is the methods that is most commonly used to calculate contribution payments and relates to properly policies subject to an inner limit or an underinsurance clause and the amount each insurer pays is the amount an insurer would have to pay if they were the only insurer covering the loss

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