Jargon Buster

We’re committed to helping our customers understand insurance. Here’s a list of common words and phrases you will come across in your policy and when making your decisions.
All | A B C D E F I L N P R S U V
There are 5 entries in this directory beginning with the letter C.
Certificate of Insurance
A certificate of insurance is a document issued by an insurance company/broker that is used to validate the existence of insurance coverage under specific policies.
Claim
A formal request to an insurance company asking for payment based on terms of an insurance policy.
Claims Made Basis
A policy issued on a ‘Claims Made’ basis meets claims that are made and reported during the policy period shown in the policy.
Claims Occurring Basis
A policy issued on a ‘Claims Occurring’ basis covers claims that occur during the policy period regardless of when the claim is made. Although you may have changed insurer they will still accept a claim even though the policy may no longer be in force.
Condition Precedent to Liability
This is potentially more serious than a policy condition because an insurance company stipulates that it will only have a liability to pay a claim if a policyholder complies with the specific policy condition.

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BHIB Councils Insurance is a trading name of BHIB Limited. Registered office is AGM House, 3 Barton Close, Grove Park, Enderby, Leicester, LE19 1SJ. BHIB Limited is registered in England and Wales number: 829660 Authorised and regulated by the Financial Conduct Authority. We are covered by the Financial Ombudsman Service. You can find out more at www.financial-ombudsman.org.uk.

BHIB Limited also provide risk management services and guidance which is not regulated by the Financial Conduct Authority. Any protection provided by the Financial Ombudsman Service or the Financial Services Compensation Scheme does not apply to this specific business activity and we will inform you of this before undertaking the business activity.