Risk & Insurance Glossary - J

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JEOPARDY – Exposure of a person to a hazard, danger or peril.
JETTISON – An ocean marine term, meaning the throwing overboard of cargo or ship's gear to lighten the load in the event of danger in order to save the vessel and the balance of the cargo. The owner of the jettisoned goods is entitled to recover part of his loss from the owners of the vessel and owners of the goods saved.
JEWELERS BLOCK FLOATER – Insurance to protect jewelry dealers and manufacturers against loss on all items of stock from many kinds of risks.
JEWELRY FLOATER – An all risk policy covering specific items of jewelry.
JUDGMENT RATES – Rates established by the judgment of the underwriter utilizing his professional skills and experience without the application of a formal set of rules or schedule.
JURISDICTION – The limits or territory within which any particular power may be exercised.