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 3 entries in this directory beginning with the letter I.
Indemnity
An insurer makes a payment to replace what is lost or damaged, putting you back to where you were, financially, prior to the loss occurring.
Insurance Act 2015
This is an Act of Parliament (within the UK) which has made significant reforms to insurance law and replaces legislation which dated back to the early 1900’s. The Act introduced new obligations, which are coupled with strict remedies for insurers.
Insurance Intermediary/Broker
An insurance intermediary who advises their clients and arranges their insurances. A full-time specialist with expert skills in insurance business.

© 2020 BHIB Councils Insurance

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.