OCCASIONAL DRIVER – The person who is not the primary or principal driver of the vehicle.

OCCUPANCY – In insurance, this term refers to the type and character of the use of property in question.

OCCURRENCE – An event that results in an Insured loss. In some lines of insurance, such as Liability, it is distinguished from accident in that the loss does not have to be sudden and fortuitous and can result from continuous or repeated exposure which results in bodily injury or property damage neither expected nor intended by the Insured.

OPEN COVER - A contract for cargo insurance to cover all shipments from time to time as declared, a certificate of insurance or policy being issued in respect of each. The arrangement is subject to cancellation on notice by either party.

OPEN POLICY – (See ‘Open Cover’).

ONUS OF PROOF OF CLAIM – The onus of proof of claim lies with the claimant who must prove his loss in terms of the right to claim and the quantum of the claim.

ORDINARY COURSE OF TRANSIT – Goods covered under a marine policy, must be carried by a customary method of carriage and the transit must be conducted by the most direct route to the specified destination without unreasonable delay.

ORDINARY LEAKAGE – Inevitable loss in volume of cargo during the period of cover under marine cargo insurance.

OUTSTANDING CLAIMS – Claims which have been provisionally advised by the Insured(s) but which are in the process of investigation and thus have not been settled.

OUTTURN REPORT – Report on the amount or weight of cargo discharged from a ship either on a daily basis or on the whole outturn.

OVERAGE - Additional premium payable on a marine insurance open cover or policy when the insured goods are carried on a vessel which does not come within the scope of the Institute Classification Clause, usually because it is too old.