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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.

Physical assault

An intentional violent act committed by a person that causes death or serious bodily injury.


The policy is the essential part of the business. It is a contract or document between the insurance company and the policyholder that sets out the legal rights and obligations of each party.


The amount paid by someone for insurance.


The process in which the estate of someone who has died is settled.

Professional Indemnity Insurance

This type of insurance is popular with those in the legal and medical professions. It offers coverage against negligence or misunderstandings that can result in court cases or legal action.

Public Liability

This protects companies against any costs if a member of the public is injured on their premises eg a shop or cinema.

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