Glossary
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Cancellation - As it sounds.
Cancellation and curtailment - If on a travel policy the policyholder is forced to cancel or cut short their their trip, then these are the costs that are incurred. It must be due to circumstances out of the policyholders control.
Carport - A roof that covers a driveway or parking place, which does not have a door like a garage.
Cash surrender value - The amount of money received by a policyholder for the surrender of an insurance policy.
Certificate - A law recognized, legal document proving insurance cover is in place.
CII - The Chartered Insurance Institute - an organization controlling professional, eithical and educational standards within the insurance industry.
Claim - A request from the insured for payment from the insurer.
Commercial vehicle insurance - Relevant mainly to vans or vehicles used exclusively for business use.
Commission - The percentage of a premium cost that an introducer will take.
Comprehensive cover - In most cases the most expensive cover for car insurance. It not only covers damage to third parties vehicles by also to your own. It also covers fire and theft.
Conditions - Provisions within an insurance contract that state both the rights and duties of care of the insurer and insured.
Contract - A legally enforceable agreement between two parties.
Cooling off period - The period of time within which a policyholder the right to cancel the insurance contract with no penalty costs being incurred.
Cover note - Effectively a temporary certificate of insurance. Issued for the short period of time that it can take for the official, full certificate to be produced.
