ISRISR

ISR

Standard policy wordings exist for this type of policy. All policies that contain such standard wordings or substantially similar wording are to be classified as ISR.

1. Marine

Includes Marine Hull and Marine Liability (including pleasure craft), and Marine Cargo (including sea and inland transit insurance).

1. Aviation

Aviation, including aircraft hull and aircraft liability.

1. Mortgage

Insurance against losses to a lender in the event of borrower default on a loan secured by a mortgage over residential or other property.

1. Consumer Credit Insurance (CCI)

Insurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.

1. Other Accident

Includes the following types of insurance:

1. Miscellaneous accident (involving cash in transit, theft, loss of money);

2. All risks (baggage, sporting equipment, guns);

3. Engineering when not part of ISR or Fire policy;

4. Plate glass when not part of packaged policy (e.g. Householders);

5. Livestock;

6. Pluvius; and

7. Sickness and Accident, which, by the terms of the policy, provides benefits for no more than 3 years.

8. Other

All other insurance business not specifically mentioned elsewhere. It includes:

1. Trade Credit;

2. Extended Warranty (includes insurance by a third party for a period in excess of the manufacturer's or seller’s normal warranty);

3. Kidnap and Ransom; and

4. Contingency.

5. Compulsory Third-Party Motor Vehicle (CTP)

This class consists only of CTP business.

1. Public and Product Liability
   1. Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and/or injury caused by, or as a result of, the use of goods and environmental clean-up caused by pollution spills where not covered by Fire and ISR policies.