General Insurance



State of cargo being soiled by atmospheric conditions arising for example from cargo in close proximity giving odours such as oranges tainting tea.

Tally Sheet

Document prepared by the port trust officials recording the description of the cargo and the number of packages as the cargo is landed from a vessel. The document will also record wherever a package is landed not in apparently sound condition. This is known as "landing tally" and requisitioned by the insurer in case of an import claim under a marine insurance policy to verify whether the package which contained the item claimed for landed in a damaged condition thereby indicating that the loss should have taken place in the custody of the carrier.

Tank Containers

Tank containers usually of stainless steel and of size 8 x 8 x 10 and capacity 4000 liters are used to carry dangerous, corrosive, inflammable and toxic chemical substances. These tank containers carry the advantages of easier handling, completely adaptable to integrated transport systems, more effective for volume loading and less expensive than using drums.

Tank Farm

An area at a refinery, terminal or storage depot dedicated to storage tanks and their safety requirements for surrounding space and spillage containment devices


Liquid Bulk Cargo Carriers, which are strongly built vessels to carry bulk liquid cargo like crude oil, petrol, molasses etc.

The speed of the vessel will be 10 to 15 knots. They play on fixed routes.

Collision damage will result in huge losses. Also the risk of fire and explosion during discharge of cargo is more. There are possibilities of pollution risk also.


Weight of packing in a consignment or unlade weight in a vehicle or container.

Tariff Rate

Rate fixed by the Tariff Advisory Committee in respect of specific property / properties and against specific peril/perils, which will have to be scrupulously followed by all insurers. In almost all cases the rate fixed by the tariff committee is the minimum to be charged for a given situation, leaving it to the individual insurer to charge more if a specific proposal warrants.

Tax Token

Token issued by RTO for having paid required tax for the vehicle. Strictly speaking, payment or non-payment of tax does not vitiate insurance contract and liability under the policy does not get prejudiced.

Taxying (Aircraft)

Deemed to include all movement of the aircraft under its own power other than for the purpose of flight. Taxying shall not be deemed to cease merely by reason of the temporary halting of the aircraft in the course of taxying from one point to another

Tearing apart on account of centrifugal forces

The term refers to insured machine/equipment/apparatus splitting into factions due to the force tending to pull it outward when it is rotating rapidly around the centre. This contingency is not covered under the explosion coverage part of a standard fire and special perils policy.

Television Insurance

Insurance Cover for T.V. apparatus and antenna as also to VCR against Fire and allied perils, Riot and Strike, any other accidental damage by external means, mechanical and electrical breakdown, burglary, housebreaking and theft. Cover is also provided against third party liability of the insured or loss to his own surrounding property arising out accidents caused by or through the insured item. Differential rates of premium are applied by the insurer depending upon whether the equipment is for personal or commercial use and also if let on hire.

Tenants Liability

Cover for damage to rented buildings

Term Insurance

Life insurance issued for a stated temporary period of time.


The unlawful taking of property of another: the term includes such crimes as burglary, larceny and robbery.

Third Party

Someone other than the insured and insurance company

Third Party Claim

A demand made by a person against a policyholder and any payment that will be made by that company

Third Party Liability

Liability incurred by the insured to another party but excluding contractual liability


A whirling wind over land, accompanied by a funnel-shaped cloud. It is usually very violent and destructive in a narrow path, often for many miles


A civil wrong, other than a breach of contract, for which a court of law will afford legal relied

Total Disability

An illness or injury which prevents an insured person from continuously performing every duty pertaining to his/ her occupation or engaging in any other type of work

Total Loss

This can be actual total loss or constructive total loss, where the cost of damage repair exceeds the value of the property insured.

Transit Clause

A clause in the Institute Cargo Clauses, specifying the attachment and termination of cover.


A reinsurance contract under which the reinsured company agrees to cede and the reinsurer agrees to assume risks of a particular class or classes of business


The money earned for goods supplied or services rendered in the course of the business at the premises specified in the policy