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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.

Employers' Liability Insurance

Every UK employer has to have this kind of policy, which protects an employer against accidents to employees.


An amendment to an insurance policy eg a change of address or a new driver added to the policy.


This is a life insurance policy that pays out a lump sum to the person who holds it when their policy matures. They are often described as a combination of savings and insurance because the money paid is invested in stocks and shares.


Refers to the property, money and possessions of a person at time of death - everything they own, in fact.


The amount that someone has to pay before the insurance company will make a contribution towards a claim.


An event or circumstance where the insurance company doesn't have to pay and compensation under the policy.

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