WAIVER – (1) A rider waiving (excluding) liability for a stated cause of accident or (especially) sickness. (2) A provision or rider agreeing to waive (forego) premium payment during a period of disability. (3) The giving up or surrender of a right or privilege that is known to exist. It may be effected by the agent, adjuster, or Insurance Company employee or official orally or in writing.

WAREHOUSE TO WAREHOUSE COVER – A term used loosely to show that cargo is insured against all the perils expressed in a marine cargo policy throughout the whole period of the transit.

WARRANTY - In a contract of insurance, either (a) a promissory undertaking by the insured that some particular thing shall or shall not be done, or that some condition shall be fulfilled or that a particular state of facts is affirmed or negatived. It must be exactly complied with. A breach entitles the insurer to deny liability; or (b) a requirement by the insurer as to some limitation of cover, e.g. "Warranted free of capture and seizure" in marine insurance.

WEAR AND TEAR - the loss to which something is subjected by or in the course of ordinary use; normal depreciation

WITHOUT PREJUDICE - Term used in discussion and correspondence. Where there is a dispute or negotiations for a settlement and terms are offered "without prejudice" an offer so made or a letter so marked and subsequent letters in an unbroken chain cannot be admitted in evidence without the consent of both parties concerned.