Glossary

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Peril: A possible cause of loss, such as fire, earthquake, windstorm etc,
Power of Attorney: A written instrument empowering a person to act on behalf of another.
Premium: The consideration payable by the Insured for an insurance.
Premium Financing: Short term loans, ranging from 3 to 9 months, for the financing of insurance premiums. Insurance Premium Financing is available for all types of JNGI policies through JN Finance Ltd*
*Conditions apply
Promissory Notes: A written promise to repay a specified amount over a specified period of time
Proposal: An application for insurance, usually on a printed proposal form
Proximate Cause: The immediate or effective cause of a loss event, not necessarily the closest in time, and uninterrupted by any intervening event.