Glossary

Trade dress refers to the distinctive design, color scheme, shape, or packaging of a product that distinguishes it in consumers' minds from other similar or competing products. Where it can be demonstrated that confusion has resulted from one party's adoption of another's trade dress, legal liability may be imposed. Infringing upon another's trade dress in an advertisement is a personal injury and advertising injury offense under the commercial general liability policy.

Trade libel is a standard peril covered under a media professional liability policy. Trade libel is also known as "product disparagement" and occurs when a product manufacturer makes untrue remarks about a competitor's product. Trade libel is also known as "product disparagement" and occurs when a product manufacturer makes untrue remarks about a competitor's product.

Trading loss coverage may be added by an endorsement to a banker's blanket bond for employee dishonesty loss involving trading (usually of securities or currency).

Trailer Interchange Insurance (CA 23 98) is a type of coverage available under either the truckers or the motor carrier policy form that covers the insured's legal liability for damage to the trailers of others. Coverage is also available, by endorsement, under the business auto policy (BAP). Motor carriers frequently haul trailers that are owned by other motor carriers. This is often done through a "trade" of trailers that are in different locations to facilitate scheduling. A trailer interchange agreement makes the motor carrier that has possession of the trailer responsible for any damage to the trailer, whether or not the trailer is attached to the tractor.

A tranche describes a subcategory of a larger set. For example, a bond offering may include several tranches of bonds posing varying degrees of risk to an investor. Dividing a bond offering into tranches creates a wider pool of potential investors. A catastrophe bond with only one tranche (and therefore one risk profile) will attract only those investors for which that risk profile is attractive. However, by structuring multiple tranches, an issuer can widen the number of interested investors.

Transfer of risk is a risk management technique whereby risk of loss is transferred to another party through a contract (e.g., a hold harmless clause) or to a professional risk bearer (i.e., an insurance company).

Transfer pricing involves payments for goods or services exchanged between affiliated companies, where the payment is not "market rate." The intent is to transfer revenues on a pretax basis from one taxation jurisdiction to another, to earn income in the country with the lowest effective tax rate.

Transfer risk pricing, in reference to multinational insurance programs, is the internationally recognized process for proper recognition of local taxable revenue and deductions involving intercompany transactions. Organizations may need to seek advice from both internal and external tax and audit experts in these processes. Establishing an arm's length, reasonable price, and documentation of the process is the key to the organization's ability to defend transactions that could be subject to outside auditing by governmental agencies.

Transitional duties are a job assignment made to an employee returning to work while still recovering from a compensable injury. The employee can eventually return to the pre-disability position; however, this job fills the gap by providing work that takes into consideration the temporary physical limitations of the employee.

Transit coverage is inland marine coverage on the insured's property while in transit over land from one location to another.