General Insurance


Jack-up Rig

In relation to energy risks, an offshore drilling structure with tubular or derrick legs that support the deck and hull. When positioned over the drilling site, the bottoms of the legs rest on the seafloor. A jack-up rig is towed or propelled to a location with its legs up. Once the legs firmly positioned on the bottom, the deck and hull height are adjusted and levelled.


Throwing overboard of a cargo. A step resorted to by the captain of the vessel to save the vessel and/or other interests in the vessel in time of common peril. Claim for loss of cargo so jettisoned is recoverable under the marine insurance policy subject to any of the Institute Cargo Clauses as long as the common peril is an insured peril.

Jewellers Block Policy

An insurance package for the needs of the jewellers. The policy covers

  • Stock-in trade of jewellers kept in the premises

  • The stock whilst in the custody of the partners/employees and the insured's agents

  • The stock whilst in transit by insured post parcel, air freight and through angadias/couriers as also

  • The office furniture, fixtures and fittings in the premises and safes at residence of concerned persons.

against fire and allied perils, burglary and theft. The policy can be further extended to cater to any other specific needs of the jewellers.

Joint Account XL Covers

Also called Common Account XL Covers which are arranged to protect both retained quota and reinsured quota on each and every risk. This arrangement is also called "Reinsurance for Joint Account (RFJA)

Joint and Several Liability

A legal term used in the definitions of liability , meaning that a decree in a court of law, if made joint and several, may be enforced against all the parties sued against or against any one of them separately.

Joint Cargo Committee

A committee formed by the Lloyds and Company Underwriters to deliberate on issues concerning cargo insurance and to make recommendations for uniform implementation.

Joint cargo Survey

A joint survey attended by the surveyor of the carrier and the surveyor appointed by the cargo owner/cargo underwriter in case of a loss to cargo.

Joint Hull committee

A committee formed by the Lloyds and Company underwriters to deliberate on issues concerning Marine Hull Insurance and to make recommendations on premium rates policy terms and conditions for uniform implementation.

Joint Hull Survey

A joint survey conducted by the surveyor appointed by the insured and the surveyor appointed by the insurer in case of an accident to the insured vessel resulting in a claim under the policy. Surveyor from the classification society may also participate in the survey in case the class of the vessel is to be certified after repairs to the vessel.

Joint Hull Understandings

Understandings reached among the Hull Underwriters in the London Market with a view ensure uniformity of approach on principles and practices concerning Hull Insurance


Determination of a court of competent jurisdiction upon matters submitted to it

Judgement by Default

Judgement delivered in a court in the absence of one of the parties to the litigation, either plaintiff or defendant.

Judgment Rating

Rate-making method for which each exposure is individually evaluated and the rate is determined largely by the underwriter's judgment.