Learn about the concept of 'statutory' in general insurance terms, which refers to mandates established by law or statute. Understand its implications in the insurance domain.
Learn about supplementary payments in liability insurance. Discover how this clause covers certain costs beyond the basic policy limits.
Learn about switch maternity provisions in health insurance where female employees are covered only if their husbands are listed as dependents. Understand key aspects of this policy.
Learn about a schedule policy in property insurance, which lists the kinds of property covered, locations, and the specific insurance coverage amounts for each.
Learn about self reinsurance, an alternative to purchasing reinsurance where insurers create a fund to cover losses beyond normal means. Explore the benefits and implications of self reinsurance.
Understand the concept of a Sole Proprietorship in the context of general insurance terms. Learn how a business owned and managed by one person is defined and functionally characterized.
Learn about the stacking of limits in insurance, a legal term that involves using the limits of multiple policies to cover a single claim or event. Understand when and how this can be applied.
Learn what a Superbill is in health insurance. It lists every service provided by a doctor, aiding in accurate billing and claims.
Explore the concept of self-funded insurance plans, where employers directly pay eligible claims. Discover the advantages and considerations of this approach to manage steady and predictable healthcare and life insurance costs.
Explore what skilled nursing care entails in health insurance. Learn about daily care requirements, certified professional involvement, medication, and treatment of existing conditions.
Learn about Sprinkler Leakage Legal Liability Insurance, which provides coverage for liability arising from sprinkler leaks that cause damage to neighboring or underlying properties.
Learn about safe burglary, a specific type of burglary involving the unlawful removal of property from a locked safe. Explore its definition, characteristics, and legal implications.
Understand Safe Depository Coverage (Criminal) which protects businesses renting safe deposit boxes, including liability costs and direct loss coverage.
Learn about the role and importance of a secondary beneficiary in life insurance policies. Discover why it's essential for ensuring benefits if the primary beneficiary cannot collect.
Learn about shock loss in general insurance, a significant event that affects insurers or underwriting companies. Discover its impact and importance in the insurance industry.
Learn about Simplified Employee Pension Plans (SEPs), where employers make contributions to an employee’s IRA. Discover how these pension plans work and benefit both employees and employers.
Understand the concept of single carrier replacement in health insurance, where one insurance carrier replaces multiple carriers to simplify your coverage.
Understand the concept of 'Single Limit' in general insurance terms, where coverage is expressed as a single amount. Learn how this term impacts your insurance policy.
Learn about Social Health Maintenance Organizations (SHMOs), a Health and Human Services funded project combining adult day care, transcription, acute, and long-term care services.
Learn about specified causes of loss in vehicle insurance which covers specific perils such as flood, vandalism, or hail, and damage done to a conveyance moving the covered vehicle.
Explore the concept of speculative risk in the context of general insurance—learn why such risks are not typically insurable and the implications for policyholders.
Learn all about Split Dollar Coverage, a common plan where the employer and employee share the costs of insurance premiums. Understand the variations and how the premium is divided based on the type of policy.
Learn about Split Dollar Plan in life insurance, a unique contract where both employer and employee share premium costs and benefits.
A comprehensive explanation of what a standard policy in general insurance entails, including its characteristics, limitations, and exceptions.
