General

Waiver.
(1) A rider waiving (excluding) liability for a stated cause of injury or sickness. (2) A provision or rider agreeing to waive premium payments during a period of disability of the insured. (3) The act of giving up or surrendering a right or privilege that is known to exist. In Property and Liability fields, it may be effected by an agent, adjuster, company, employee, or company official, and it can be done either orally or in writing.

Waiver of Restoration Premium.
(1) An agreement or decision to forego any premium for reinstatement of the face amount of coverage under an insurance policy after it has been reduced by the amount of a loss payment. (2) A provision, especially in bonds, for automatic restoration of the full amount of protection without cost to the insured.

War Risk Insurance.
Insurance covering damage caused by war. Most often written by Ocean Marine Insurance companies covering vessels.

Warsaw Convention.
An international agreement setting limits of liability on international flights with respect to payments for bodily injury and death.

We/Us/Our.
These words are used to refer to the insurer in many of the modernized/personalized policy forms recently introduced.

Welfare.
See Public Assistance.

Whole Dollar Premium.
In many insurance contracts today, the premiums are rounded to the nearest dollar, rather than carrying them out to the nearest cent. An amount of 51 cents or more is usually rounded up to the next dollar, and any cents amount less than that is dropped.

Will Ride.
Coverage that remains in effect regardless of the geographical location in which a loss occurs.

Willful Injury.
See Intentional Injury.

Write.
To insure, to underwrite, or to accept an application.

Written Premiums.
The total premiums on all policies written by an insurer during a specified period of time, regardless of what portions have been earned. Contrast with Earned Premium.