| peril |
a peril is the possible cause of a loss |
|
| person (financial) |
Person means any natural person, partnership or trust, and includes any State organ, any company and any Body of persons corporate or unincorporated. The term ‘natural person’ is used simply to distinguish a natural person from a legal person such as a trust or a company. |
|
| poca |
The Prevention of Organised Crime Act |
|
| pocdatara |
The Protection of Constitutional Democracy Against Terrorism and Related Activities Act |
|
| policy schedule |
the list of personal details of the insured and the subject
matter of the insurance in a policy |
|
| premium |
the money paid by the insured to the insurer for cover as
specified in the insurance policy. It may also contain terms and conditions
additional to the policy wording. |
|
| premium rate |
the price per unit of insurance, based on a percentage of
value |
|
| pro rata premium |
the premium based on the length of time for which the
insurer was actually on risk |
|
| probability |
the chance of an event occurring |
|
| product supplier |
Any person who issues a financial product by virtue of an authority, approval or right granted to such person under any law. |
|
| profitability |
(Return on sales, operating profit margin, PBIT%, EBIT%)
Profitability is operating profit on sales. It is the first value driver in the ValueDriver model
[Profitability, P = EBIT] |
|
| profitability b |
(Retained earnings, retained income)
Retained profit is the final amount of profit remaining in the company for reinvestment after paying dividends.
[Retained profit = NPAT – Dividends] |
|
| proximate cause |
a direct cause of a loss which is uninterrupted by any
other event |
|
 |
