Glossary

The Year 2000 exclusion precluded coverage for losses arising from an electronic device's inability to distinguish between century years because their programs identify years only by their last two digits and operate on the assumption that a year identified as "00" is 1900. Insurance Services Office, Inc. (ISO), American Association of Insurance Services (AAIS), and the Surety Association of America, Inc. (SAA), developed various standard exclusion endorsements for attachment to property, liability, and fidelity insurance policies. In addition, many insurers have their own exclusions.

The yellow book refers to the annual reporting form for property and casualty insurers in the United States. It is also known as yellow peril, for its size and complexity, although with the advent of computerized work sheets and electronic filings, it is much less of a peril than in the days of typewriters and calculators.

York Antwerp Rules are a set of complex rules prescribed to by most nations that outline the method of allocating general average losses between ship owners and cargo owners.