Claims and Theft, All Risks & Money Policies

This publication sets out the essential elements of contracts of insurance and looks in detail at policies relating to theft, including clauses, policy wordings and terminology, indemnity, conditions, limits and exclusions. Separate consideration is given to policies covering theft of money and policies covering ‘all risks’.

The book makes reference to sample policies and clauses, detailing the relevant terms clearly and precisely.

The Appendices provide standard industry policy wordings and relevant case law.

This book is written to assist students of insurance and people in business generally to understand the way in which the policy conditions apply in practice, and to interpret information brought together from various sources.

The importance of basic principles, and that these principles apply to insurance generally, can be seen from the fact that some legal cases quoted relate to a variety of “insurance situations”, not only arising from theft, etc.

As so often in discussion about insurance, there is misunderstanding on the part of the public at large about the nature of the contractual relationship and the contract conditions. In the classes of insurance referred to in this book, for example, the relationship of “theft” as defined in the Theft Act 1968 and the cover actually given by the policy is not always recognised. In spite of legislation, for example the Marine Insurance Act 1906, case law relating to insurance contracts has continued to develop, with recent cases revealing new areas of dispute requiring legal clarification of apparently established principles. Whilst every effort has been made to incorporate the latest authorities, clearly new legal issues will continue to arise in our complex trading and commercial environment and will have to be taken into account during any consideration of this text.

Chapter 1 The contract

Chapter 2 The theft policy: preliminaries

Chapter 3 The theft policy and schedule

Chapter 4 The theft policy: definitions

Chapter 5 The theft policy: indemnity

Chapter 6 The theft policy: limits and exclusions

Chapter 7 The theft policy: conditions

Chapter 8 The money policy

Chapter 9 The money policy: exclusions

Chapter 10 The money policy: extensions

Chapter 11 ‘All risks’ policies: personal

Chapter 12 ‘All risks’ policies: commercial

Chapter 13 Glass; goods in transit; fidelity guarantee

Chapter 14 Making a claim: an overview

Appendix A Security surveys

Appendix B Association of British Insurers Statement of General Insurance Practice

Appendix C The business premises proposal form

Appendix D Typical theft policy and schedule

Appendix E Typical money policy and schedule

Appendix F Precis of cases

Appendix G Table of cases

CILA

The Chartered Institute of Loss Adjusters (CILA) is a globally recognised membership organisation for claims professionals. The Institute sets the professional and ethical standards for those who work in the handling of claims through its qualification framework and guide to professional conduct.