Glossary

A storm surge is water that is pushed toward the shore due to the force of winds swirling around a storm advancing across a body of water.

The Stowers Doctrine holds that a liability insurer that undertakes the defense of an insured has a duty to act in good faith in settling a liability claim. It is named for a seminal Texas case, G. A. Stowers Furniture Co. v. American Indem. Co. , 15 S.W.2d 544 (Tex. Comm'n App. 1929).

A straight life policy is an ordinary life policy or whole life policy.

A type of law aimed at countering Strategic Lawsuits Against Public Participation (SLAPP), which are suits designed to censor and silence critics.

Strategic risk refers to exposure to uncertainty arising from long-term policy decisions.

Stray risk insurance covers one voyage or a single venture.

Strict liability is a legal doctrine under which liability is imposed upon the party who is found strictly liable for injuries or damages even if that party was not at fault or negligent. It is liability imposed without regard to fault.

A strike-through clause is a reinsurance contract provision requiring a reinsurer to pay its share of a loss directly to the insured in the event that the ceding insurer becomes insolvent.

Insurers may exclude or limit coverage for strikes, riots, and civil commotion (SRCC) perils on policies covering retailers, hotels, and other vulnerable businesses. Such businesses can obtain separate coverage for riot and civil commotion by purchasing a political violence policy.

Strikes, riots, and civil commotion warranty (SR&CC) is an ocean marine coverage provision that excludes damage from strikes, riots, civil commotions, lockouts, vandalism, and sabotage, including terrorist acts and any other acts carried out for political or ideological purposes.