CIP 01 Flashcards
claims condition stating that all policy benefit is forfeited if a claim is in any way fraudulent or if fraudulent means are used to obtain a benefit, or if wilful damage is caused
fraud condition
a risk that arises from social, economic, political or (sometimes) natural causes and is widespread in its effects
fundamental risk
a test in which the conduct of the defendant is compared to that of a reasonable person under similar circumstances
objective test of reasonableness
refers to how a thing looks on its first appearance
prima facie
nuisance in relation to the ownership or occupation of land
private nuisance
a desire on the part of an individual or company to minimise the risks to which they are exposed, either through risk management or insurance
risk-averse