A loss that happens and is insured. The loss is not predictable. Additional insurance must be bought. Refer to direct loss and indirect loss.

Policy that covers against indirect loss and property damage. It covers accidents and is sold with regular policies to help prevent further loss.

Anything that occurs due to a previous event. Refer to subsequently.

Protecting and using resources in a wise way to get the most benefit for long term. There are many ways to do this by alternative technologies, recycling, and reduction of waste.

An idea that supports free enterprise capitalism, traditional ideals, mininal government help, strict law, and gradual change. It started in 1750 and ended in 1850. It is nondoctrinated approach and practical outlook

Keeping risk low with blue chip stock in a portfolio.

Investing to preserve capital and risk by diversification in the portfolio. Low risk investments like government ones are the best way to do this.

The tendency to make safe choices instead of risky ones that may lead to loss.

Symbols on packages that help them be easily identified and categorized.

An arrangement of trade where a seller gets to sell in a shop they don’t own. Once sold the owner of the establishment is paid a percent of the money for the

The idea that once an accounting method is chosen it is followed until the end. If a change is made it must be disclosed and explained. AKA consistency concept. Refer to accounting

1. an order done logically with a pattern. 2. anything that doesn’t change. 3. following the rules of standards.

Abbreviated form of Consolidated Fund Annuities, representing PERPETUAL DEBT issued by the UK government as part of its GILT program. Consols, which form part of the government

The total governmental spending for a year. It can include funds transferred other agencies and made by other governments.

A loan that pays older loans with a new one. It has a longer time to pay off and an amount that is lower than the combined payments of the old loans.

1. when firms agree to cross own assets. It is called Keiretsu in Japan. Refer to chaebol and zaibatsu. 2. the plural form of consortium.

An agreement of a group to help eachother if an emergency should occur. It can be sharing a space or helping a member if a disaster occurs.

A form of MERCHANT BANK, popular in the EUROMARKETS during the 1970s and 1980s, jointly owned by several large international BANKS. Consortium banks were typically active in international LOAN origination and SYNDICATION,

An UNDERWRITING process in the INSURANCE market where a group of LLOYD

A rule in a contract that is assumed to be easily noticable and obvious.