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With terms like 'excess' and 'endorsement' used by risk professionals every day it's helpful to know what they mean in plain English. And no, 'excess' isn't something that happens at the best parties!

Flood Insurance

This is designed to reimburse property owners from loss due to flood. Usually sold in connection with a government flood insurance plan. Some insurers no longer offer insurance policies in places where there is a high risk of flooding.


An application made to an insurance company by one of their policyholders, when something has gone wrong - this could be anything from a dented car to a multi-million dollar sports injury.

Comprehensive Insurance

This is insurance that gives wide-ranging cover. Normally applies to motor insurance that includes damage to own vehicle(s).


This arises when the subject matter, insured entity and cause of loss are insured more than once.


This is the amount that something is insured for - for example, life insurance cover can be for £100,000.

Critical Illness Cover

People pay into a Critical Illness policy so that they receive a one-off sum of money if they are diagnosed with a specified critical illness.

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