A description of property or a person that is in the best condition. In marine insurance, before a vessel can be insured, it has to be inspected to check its condition. If it is “maintained in good and efficient condition” it will be shown in Lloyd's Register of Shipping as ‘A’ and if the anchor moorings are in the same condition the number ‘1’ is added. This description is also used in life assurance, in which premiums are largely based on the person's health. After a medical examination a person in perfect health is described as “an A1 life”.
Subjects: Financial Institutions and Services.