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Data Recognition endorsements

Endorsement relating to any failure by any equipment (including any hardware or software) to correctly recognise any given date or to process any data or to operate properly due to any failure to correctly recognise any given date.


A statement signed by the applicant for insurance at the foot of a proposal form, certifying the accuracy of the information given to the best of their knowledge.


Refusal of an Insurer to accept or renew a proposal for Insurance.


Refusal to accept the request for Insurance coverage.


The amount of the Loss which the Insured is responsible to pay before benefits from the insurance company are payable. You may choose a higher deductible to lower your Premium. Also known as Excess.

Difference in Condition

Provides coverage designed to close specific gaps in standard insurance policies for example were cover is required to meet a minimum approved wording.

Direct Writer

Method of selling Insurance directly to the public through an insurance company's own employees, through the mail or the internet.


Persons who are appointed to the board of directors under procedures contained in the Articles of Association are the directors of the company. Shadow directors may also be treated as directors in some circumstances. Executives whose job title describe them as a director but are not members of the board are not treated as directors, although they may have ostensible authority to bind the company as if they were.


The duty of the Insured and his Broker to tell the Underwriter every Material Fact before acceptance of the Risk.

Due Diligence

(Accountancy Usage) The process by which a purchaser of or an investor in a company or business investigates the records of the target to support its value and find out whether there are "skeletons in the cupboard". Professional reports from accountants and solicitors may be included.
Due Diligence (Policyholder)
You are expected to take reasonable steps to prevent accident or injury and to protect your property against loss or damage. You must keep any property insured under a policy in good condition and repair.


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