The Association of Teachers of Lipreading to Adults


Aggregate Total (limit of indemnity)
Excess The amount of a loss or claim that you must bear. If the claim is less than the amount of the excess then you must meet the cost of it. If the claim exceeds the excess then you will be required to contribute the amount of the excess and the insurer will pay the balance.
Financial Conduct Authority The FCA regulates all aspects of the insurance and investment industry. Alan Boswell Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority
Indemnity The principle by which a person who has suffered a loss is restored (so far as possible) to the same financial position that he or she was in prior to the loss.
Insurance Premium Tax IPT is a tax on insurance premiums applicable to most insurance risks located in the United Kingdom. The standard rate of IPT is currently 6%.
Limit of Indemnity A policy limit: the maximum amount payable. Losses up to this limit will be met by the insurer. The policy limit needs to be adequate to meet any likely claims.
Public Liability Insurance Insurance against legal liability to pay damages for accidental bodily injury to, or damage to the property of, third parties. The insurance usually also covers legal fees and other costs related to the defence or handling of a claim against you.
Professional Indemnity Insurance Insurance against compensation claims made by a third party arising from your professional negligence, error or omission.