Understand the concept of selection of risk in general insurance terms, including how insurers choose which risks to insure and the role of reinsurance in managing those risks.
Learn about self-insurance, an alternative to traditional insurance used by large organizations. Discover how companies manage future risks by setting aside funds for anticipated and unanticipated losses.
Learn about Social Security, a broad term referring to programs mandated by the Social Security Act of 1935 and its amendments. Understand Old Age, Survivors, Disability, and Health Insurance and how these programs assist the public.
Learn about special acceptance in reinsurance, where risks not automatically accepted through a reinsurance contract are taken on through a separate agreement.
Explore how a spendthrift clause in life insurance protects beneficiaries by preventing creditors from claiming benefits directly. Understand the legal implications and advantages.
Learn about sponsor plans in pensions, where employers or employee groups set up or maintain benefit plans for employee retirement and other advantages.
Learn about the Staff Model HMO, a type of Health Maintenance Organization (HMO) where premiums are paid directly to the HMO, which employs physicians who receive salaries and predetermined bonuses.
Explore the concept of statutory reserve in general insurance, a legally required reserve to ensure the financial stability and integrity of insurance providers.
Discover the essentials of Stop Loss Reinsurance, a type of coverage where a ceding insurer is protected based on the losses incurred within a calendar year. Learn how this affects the financial stability and risk management of insurers.
Learn about strict liability in liability insurance, a form of liability that affects manufacturers and merchandisers due to defective products. Understand how liability applies without negligence and what is needed to prove a product is dangerously defective.
Learn about the strike through clause in reinsurance, a provision that ensures losses are managed even if the ceding insurer is unable to meet them, directing the reinsurer to pay the insured directly.
Explore the role and functions of a Sub Broker in reinsurance, an intermediary who assists the primary broker in acquiring necessary reinsurance placements.
Learn about subject premium in the context of reinsurance, including how the ceding insurer's premium is used to calculate the reinsurance premium by applying the reinsurance factor.
Understand the concept of a subrogation waiver in property insurance, the importance of this waiver in policy agreements, and its implications on claim processes.
Understand the Sue and Labor Clause in Property Insurance that requires insured individuals to protect and salvage property. Learn about the responsibilities and importance of this clause.
Learn about supplemental contracts in life insurance, which specify how the proceeds of a life insurance policy will be settled. Discover the importance of these riders in ensuring clear and agreed-upon payout procedures.
Learn about the Surety Bond Guarantee Program administered by the Small Business Administration (SBA), which backs surety companies against losses under contract bonds for minority contractors.
Learn about survivorship benefits in life insurance, including how funds are used to support annuitants living longer than expected and the role of premiums from deceased annuitants.
Learn about Split Life Insurance, a unique coverage that combines installment annuity and term insurance. Understand how premiums determine the amount of insurance purchased and explore its benefits and uses.
Learn about secondary care in health insurance, which involves specialized medical attention typically provided upon referral from a primary care physician.
Learn about the Stop Loss clause in general insurance, a crucial concept that caps the insurer's losses at a designated threshold to prevent excessive financial claims.
Explore the concept of submitted business in general insurance, where new business applications are submitted to an insurer but are not yet accepted or declined.
Learn about the Securities Act of 1933, a fundamental law in the financial sector requiring a detailed prospectus and full disclosure to regulate the sale of securities.
Learn about the Standard Annuity Table, a crucial mortality table used for annuities, formally known as The 1937 Standard Annuity Table, and its significance in pensions.
Learn about the essential Statement of Policy Information in universal life insurance, detailing transactions and annual updates like interest credited and premiums paid.
Learn about the Safe Driver Plan in vehicle insurance, where points are assessed for accidents and traffic violations, affecting your insurance surcharge.
Learn about the Securities Deposited with Others Coverage Form, a commercial crime policy that protects securities deposited with institutions or trusted individuals against loss due to disappearance, destruction, or theft.
Discover the essentials of a Self Administered Trustee Plan, a retirement plan managed by a trustee who handles contributions, investments, and benefit payments.
Learn about sinkhole collapse in property insurance, a peril caused by sudden earth movement into underground cavities. Understand coverage options available under commercial property forms.
Discover the Society of Insurance Research (SIR) and its role in promoting insurance research and fostering the exchange of ideas among researchers in the insurance industry.
Learn about special peril insurance, a type of property insurance that only covers items specifically named in the contract. Understand its benefits and limitations.
Learn about the standard premium in liability insurance and workers compensation. Understand how it is calculated based on the insured’s payroll and its significance in determining premiums.
Learn about Storekeeper’s Burglary and Robbery Insurance, a package policy that provides storekeepers with coverage against seven key criminal hazards, ensuring protection for their business.
Learn about the Storekeeper’s Liability Policy, a comprehensive insurance package covering property damage and bodily injury liability for storekeepers. Essential for everyday business operations.
A comprehensive guide that explains the necessity and importance of the Summary Annual Report, a mandatory document sent to each pension plan participant annually.
Learn about Surplus Reinsurance, an automatic reinsurance type where the ceding company transfers risks exceeding their retention limit. Explore its functions and benefits in risk management.
Explore the definition of slander in legal terminology, a statement that is injurious to the person it was said about. Learn about the implications and penalties associated with slander.
Learn about the standard provisions mandated by state law that are included in all life and health insurance policies. Discover how these provisions ensure consistency and compliance with regulations.
Understand Sickness Insurance, also known as Health Insurance, which covers losses caused by illness or disease. Learn about its benefits, coverages, and considerations.
Learn about the definition and implications of sublimits in general insurance policies. Discover how sublimits function and what they mean for policyholders.
Learn about subordination in surety bonds, a process where a particular matter is given less importance compared to another. Discover its implications in the insurance domain.