GLOSSARY
Insurance words, explained.
Every acronym we use on this site. Tell us if we've missed one.
A
- Aggregate limit
- The maximum total amount we'll pay across all claims in a single policy year. Separate from the Any One Claim (AOC) limit, which applies per claim.
- AOCAny One Claim
- The maximum amount we'll pay for a single claim under a section of cover. Sits alongside the aggregate limit (total across all claims in a policy year).
- APRAnnual Percentage Rate
- The total cost of credit, expressed as an annual rate. Shown on monthly payment options before you commit, so you can see the full annual cost.
Related terms: Aggregate limit
B
- BSLBritish Sign Language
- A sign language used in the UK. We can provide BSL-interpreted versions of our key documents and claim conversations on request.
C
- CGTCapital Gains Tax
- UK tax on the profit when you sell or dispose of an asset that has gone up in value. Relevant for landlords when selling let property.
F
- FCAFinancial Conduct Authority
- The UK regulator for financial services firms. Authorises and supervises insurance brokers (directly or via their principal firm) and sets the rules they operate under.
- FOSFinancial Ombudsman Service
- Free, independent service that resolves disputes between consumers and financial-services firms. Decisions are binding on the firm.
- FRNFirm Reference Number
- Unique identifier for a firm on the FCA register. You can verify any firm by entering its FRN at register.fca.org.uk. Revive Insure (an FCA-approved Appointed Representative): FRN 1040766.
- FSCSFinancial Services Compensation Scheme
- UK statutory compensation scheme. If a regulated firm fails and can't meet its obligations, the FSCS may pay compensation to eligible customers.
Related terms: FCA
Related terms: FCA
Related terms: FCA
H
- HMRCHM Revenue & Customs
- UK government department responsible for tax. Conducts investigations into business and personal tax returns; legal-expenses cover can support the costs of defending such investigations.
- HNWHigh Net Worth
- Customers with higher-value insurance needs, often involving non-standard properties, premium vehicles, or complex household setups. We cover HNW alongside standard customers.
I
- IARIntroducer Appointed Representative
- A more limited form of Appointed Representative arrangement, restricted to introducing customers to a principal firm. Some Revive distribution partners operate as IARs.
- ICOInformation Commissioner's Office
- UK regulator for data protection and information rights, including GDPR enforcement. Where to complain if you believe your personal data is being mishandled.
- IPTInsurance Premium Tax
- UK tax on most general insurance premiums. Included in the quoted price — we don't add it on at checkout.
Related terms: AR
L
- LLELandlord Legal Expenses
- Insurance covering legal costs and rent-recovery for landlords. Often bundled with Rent Guarantee for full protection against tenant defaults and disputes.
M
- MLEMotor Legal Expenses
- Insurance covering legal costs after a road-traffic incident — uninsured loss recovery, motoring prosecution defence, and (on higher tiers) a guaranteed hire vehicle.
N
- NCDNo Claims Discount
- Discount on your motor premium for years of claim-free driving. "Protected NCD" preserves the discount after a limited number of claims but doesn't guarantee your premium stays flat.
O
- OEMOriginal Equipment Manufacturer
- Parts made by the same manufacturer as the original vehicle, as distinct from third-party replacement parts. Some motor policies require OEM parts; others allow equivalents.
P
- PIPersonal Injury (or Professional Indemnity, depending on context)
- Two unrelated uses. In motor context: bodily injury claims after an incident. In business context: insurance covering legal claims for professional negligence, errors, or omissions.
- PRAPrudential Regulation Authority
- Part of the Bank of England, regulates the financial soundness of insurers (capital, solvency). Works alongside the FCA, which regulates conduct.
Related terms: FCA
S
- SDPSocial, Domestic and Pleasure
- A motor-insurance use class covering personal driving — shopping, family, leisure. Excludes commuting and business use, both of which must be declared separately.
- SMESmall and Medium-sized Enterprise
- UK definition: fewer than 250 employees, turnover under £50m or balance sheet under £43m. Revive's commercial cover is built for SMEs.
T
- TL;DRToo Long; Didn't Read
- Internet shorthand for a short summary at the top of a long document. We use TL;DR cards on policy and legal pages so you can get the gist in 30 seconds.
- TPThird Party
- The minimum legal level of motor insurance in the UK. Covers your liability for injury or damage to other people and their property — not damage to your own vehicle.
- TPFTThird Party, Fire and Theft
- Third-party cover plus protection if your own vehicle is stolen or damaged by fire. Doesn't cover accidental damage to your vehicle if you cause an accident.
Related terms: TPFT
Related terms: TP
U
- ULRUninsured Loss Recovery
- Pursuing costs that aren't covered by your main insurance — typically excess, hire-car costs, or personal items — from the at-fault party in a non-fault accident. Often included in legal-expenses cover.
V
- VATValue Added Tax
- UK tax on most goods and services. Insurance premiums are exempt from VAT, but related fees may be VAT-applicable.