GLOSSARY of Office and Home Office Insurance Terms
Property Insurance
Definitions of Property
Property Insured – Buildings at the Premises including within the open yards forming part of the Premises (subject to any specific exclusions) – General Contents including within the open yards forming part of the Premises (subject to any specific exclusions) – Other property or interests including within the open yards forming part of the Premises (subject to any specific exclusions) all as defined below or more fully described in the Schedule and all being the property of the Insured or for which they are responsible but excluding – property which is more specifically insured – unless specifically notified to and accepted by the Company as insured A) land roads pavements piers jetties bridges culverts or excavations B) livestock growing crops or treestrees
Buildings
– buildings (being built mainly of brick stone concrete or other non-combustible materials unless otherwise stated in the Schedule) – landlord’s fixtures and fittings in and on the buildings – small outside buildings extensions annexes gangways – walls gates and fences – services which shall mean telephone gas and water mains electrical instruments meters piping cabling and the like and the accessories thereon extending from the buildings to the perimeter of the Premises or to the public mains (including those underground)
General Contents
– machinery plant fixtures fittings and other trade equipment – all Office Machines and other contents excluding Computer and Ancillary Equipment, Computer Systems Records, Money and securities of any description, Transparencies Deeds and Documents – patterns models moulds plans and designs – in so far as they are not otherwise insured directors’ partners’ and employees’ personal effects including clothing pedal cycles tools instruments and the like for an amount not exceeding £500 per person but any cover granted under this insurance for Damage by Theft shall not apply to personal effects partly or wholly of precious metal jewellery watches furs contact lenses portable electronic entertainment equipment cameras Money and securities of any description – wines spirits cigarettes and tobacco held for entertainment purposes – promotional materials leaflets and the like – travel agents brochures – to the extent that they are not otherwise insured motor vehicles motor chassis and their contents – satellite dishes – curios pictures and other works of art (including any limited edition reproductions thereof) stamp collections articles of precious metal jewellery or furs up to a limit of £1,000 in all – Glass Sanitary Earthenware neon and illuminated signs and electric light fitments
Deeds and Documents
– deeds wills agreements plans manuscripts business books written or printed books and documents of any nature letters certificates microfilm and microfiche but excluding negotiable securities Money and stamps
Transparencies
– transparencies film negatives and video tapes
Money
– cash bank notes currency notes cheques bankers’ drafts postal orders money orders current postage stamps and revenue stamps National Insurance stamps National Savings stamps and certificates holiday savings stamps luncheon vouchers credit company sales vouchers VAT purchase invoices Premium Bonds bills of exchange giro cheques and drafts gift tokens trading stamps unused units of franking machines consumer redemption vouchers and credit cards
Glass
– normal flat annealed glass including lettering thereon – toughened and laminated glass including lettering thereon – mirrors – bent tinted stained or fired glass – decoration or protective film or alarm foil on glass
Sanitary Earthenware
– sanitary ware of every description
Computer Equipment
– all computer equipment including interconnecting wiring fixed disks and telecommunications equipment used for the storage and communication of electronically processed data owned by or leased hired or rented to the Insured
Ancillary Equipment
– ancillary equipment solely for use with the Computer Equipment comprising air conditioning generating voltage regulating temperature and humidity recording electronic access and heat and smoke detection equipment Halon and other fire extinguishing gas bottles and pipework and computer room partitioning owned by or leased hired or rented to the Insured
Computer Systems Records
– all current and backup computer records (excluding fixed disks and paper records of any description) incorporating stored programs and/or information stored thereon
Office Machines
– typewriters duplicators photocopying machines calculators accounting machines telephone installations public address systems dictating equipment postal and franking machines and similar office equipment belonging to the Insured or for which they are responsible
Tenant’s Improvements
– all tenant’s improvements alterations additions and decorations belonging to the Insured or for which they are responsible
Designation of Property
Where necessary the item heading under which any property is insured shall be determined by the designation under which such property appears in the Insured’s books
Business Interruption Insurance
The following notes refer to the Definitions stated below 1 To the extent that the Insured are accountable to the tax authorities for Value Added Tax all terms in this insurance shall be exclusive of such tax 2 For the purpose of these definitions any adjustment implemented in current cost accounting shall be disregarded 3 In the definition of Insurable Amount the amount of Gross Revenue shall be proportionately increased to correspond with the Maximum Indemnity Period where it exceeds twelve months
Indemnity Period
the period beginning when the Damage occurs and ending when the results of the Business cease to be affected by the Damage but not exceeding the Maximum Indemnity Period (as shown in the Schedule)
Gross Revenue
the money paid or payable to the Insured for works done and for services rendered in course of the Business at the Premises
Standard Gross Revenue
the Gross Revenue which would have been obtained during the Indemnity Period had the Damage not occurred after account has been taken of the trends of the Business and of the variations in or other circumstances affecting the Business either before or after the Damage or which would have affected the Business had the Damage not occurred (subject to the provision of Note 3 above)
Insurable Amount
the Gross Revenue which would have been earned in the twelve months immediately following the date of the Damagehad the Damage not occurred after account has been taken of the trends of the Business and of the variations in or other circumstances affecting the Business either before or after the Damage or which would have affected the Business had the Damage not occurred (subject to the provision of Note 3 above)
Outstanding Debit Balances
the total recorded under the provisions of Debit Recording adjusted for A) bad debts B) amounts debited (or invoiced but not debited) and credited (including credit notes and cash not passed through the books at the time of the Damage) to the credit accounts of the Business in the period between the date to which the last monthly record relates and the date of the Damage and C) any abnormal condition of trade which had or could have had a material effect on the Business so that the figures thus adjusted shall represent as nearly as reasonably practicable those which would have been obtained at the date of the Damage had the Damage not occurred
Computer Equipment Insurance
Property Insured:
– Computer Equipment at the Premises or whilst temporarily away from the Premises anywhere in the world unless otherwise stated in the Schedule – Ancillary Equipment at the Premises or whilst temporarily away from the Premises anywhere in the world unless otherwise stated in the Schedule – Computer Systems Records at the Premises or whilst temporarily away from the Premises anywhere in the world unless otherwise stated in the Schedule all as defined below or more fully described in the Schedule and all being the property of the Insured or for which they are responsible but excluding property which is more specifically insured
Computer Equipment
All computer equipment including interconnecting wiring fixed disks and telecommunications equipment used for the storage and communication of electronically processed data owned by or leased hired or rented to the Insured
Ancillary Equipment
Ancillary equipment solely for use with the Computer Equipment comprising air conditioning generating voltage regulating temperature and humidity recording electronic access and heat and smoke detection equipment Halon and other fire extinguishing gas bottles and pipework and computer room partitioning owned by or leased hired or rented to the Insured
Computer Systems Records
All current and backup computer records (excluding fixed disks and paper records of any description) incorporating stored programs and/or information stored thereon
Maintenance Agreement
A maintenance rental hire or lease agreement which provides a minimum service of on-call remedial and/or corrective maintenance at inclusive cost
Liability Insurance
Person Entitled to Indemnity
shall mean A) the Insured B) the personal representatives of the Insured in respect of legal liability incurred by the Insured C) at the request of the Insured 1) any principal 2) any director or partner of the Insured 3) any Person Employed against legal liability in respect of which the Insured would have been entitled to indemnity under this Policy if the claim had been made against the Insured 4) the officers committees and members of the Insured’s canteen social sports and welfare organisations and first aid fire ambulance medical and security services in their respective capacities as such but this shall not include medical or dental practitioners in relation to medical services provided 5) any director or partner of the Insured or Employee in respect of private work undertaken by any Person Employed for such director partner or Employee with the prior consent of the Insured each of whom shall as though the Insured be subject to the terms of this Policy so far as they can apply
Employee
shall mean any individual under a contract of service or apprenticeship with the Insured
Person Employed
shall mean any A) Employee B) labour master and individuals supplied by him while under the direct control and supervision of the Insured C) individual employed by labour only sub-contractors while under the direct control and supervision of the Insured D) self employed individual (not being in partnership with the Insured) while under the direct control and supervision of the Insured E) individual hired to or borrowed by the Insured while under the direct control and supervision of the Insured F) individual undertaking study or work experience while under the supervision of the Insured while under the direct control and supervision of the Insured
Injury
shall mean
Section 1 - Employers’ Liability: bodily injury death disease or illness
Sections 2 3 and 4 Public/Products Liability and Legal Defence Costs: bodily injury death disease illness wrongful arrest or false imprisonment
Property
shall mean material property
Business
shall mean that which is specified in the Schedule and conducted solely from premises in Great Britain Northern Ireland the Channel Islands or the Isle of Man and shall include A) ownership repair and maintenance of the Insured’s own property B) provision and management of canteen social sports and welfare organisations and first aid ambulance and medical services for the benefit of any Person Employed C) fire and security services maintained solely for the protection of premises owned or occupied by the Insured D) private work undertaken by any Person Employed for any director or partner of the Insured or Employee with the prior consent of the Insured but in respect of Section 1 shall not include any work undertaken Offshore
Offshore
shall mean embarkation on to a vessel or aircraft for conveyance to an offshore rig or platform until disembarkation from the conveyance on to land upon return from such offshore rig or platform
Event
shall mean one occurrence or all occurrences of a series consequent on or attributable to one source or original cause
Insured’s Contribution
shall mean the amount or amounts specified in the Schedule which the Insured agrees to pay
Intellectual Property Rights
shall mean any patent trade mark copyright registered design technical or commercial information or other intellectual property