Defined event

Defined event

The definition applicable to the trigger of a loss in an insurance policy, particularly political risk insurance.
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The assumption made is that if the defined event occurs, most policyholders in the area are likely to suffer damage, and therefore the amount should be paid out without any inspection or further investigation.
Additionally, the safety interrupt is a programmable fail-safe feature permitting all relays to be opened based upon a user defined event. These intelligent switching features are achieved in hardware, rather than through driver or on-board firmware, thereby greatly increasing system throughput and reducing software programming overhead.
d.The agency must either be exclusively an event management firm or they should have exclusively defined event management division within the firm.
This function is event-controlled, promptly transmitting defined events such as certain measurement values to the controller and switching outputs independently from the clock cycle.
He said: "Our current debt on the stadium now stands at an alltime low of pounds 39m - if you factor out certain defined events, the debt is pounds 10m less at pounds 29m."
Opralog will enable standard sets of data to be collected automatically for defined events by linking into the PI systems.
However, it was developments in NR pricing relative to SR that really defined events in 2005.
* Two Recording Modes--ScreenSense supports the following recording modes: All Events Recording, (every time the defined events occur on the screen, recording is initiated) and Schedule-Bound Recording (only a percentage of the interactions identified by the defined screen events are recorded based on the schedules established in the NiceUniverse Scheduler application).
The fact that an option is contingent on certain defined events (the likelihood or remoteness of which is not considered), or not currently exercisable pursuant to its terms, is ignored (Temp.
This insurance is intended to guarantee the harmful consequences resulting from contractually defined events likely to affect the property and furniture assets, industrial premises, computer equipment, electrical substations, networks of any kind necessary for the operation, deposits, workshops, stations, etc., as well as liabilities arising from the ownership, custody, administration or use of insured property.
Of that pounds 10m is not interest accruing and according to the WRU's latest accounts will only be repayable in the event of 'default or certain other defined events'.
A note in the accounts states that a pounds 10m element of the pounds 55m debt with Barclays is only payable 'in the event of default or certain other defined events.'