Glossary
AL-BAHRIAH INSURANCE & REINSURANCE S.A.L.
© Al-Bahriah Insurance & Reinsurance S.A.L. - Email: info@bahriah.com - Phone: +961 1 336633 - Fax: +961 1 612311
Address: 770, Al-Bahriah House, Hotel Dieu Avenue, Beirut - Lebanon
Glossary
Umpire
Person appointed in arbitration disputes who will reach a decision
if two arbitrators disagree.
Under-insurance
Insurance that is not adequate in terms of the sum insured to provide
for full payment of a loss.
Underwriter
A person who determines the acceptability of an insurance and
specifies terms and premium for it . Also referred to as “Insurer”.
Ullage
Utmost good faith
Vertical distance between the surface of the liquid in a tank.
Insurance contracts requires parties (Insurer and Insured) to exercise
the utmost good faith in their dealings with each other. The Applicant
of an insurance must disclose all material facts which would influence
a prudent insurer in deciding whether to accept the insurance and if
 البحــــــريـــــــة للضمـــــــان واعـــــــادة الضمــــــــان ش.م.ل