Glossary

Single interest insurance is property insurance protecting the interest of only one of the parties having an insurable interest in the property.

Single premium insurance is an insurance policy or annuity bought with one premium with no further premiums due during the term of the contract.

A single premium variable life insurance policy is a single premium life policy where the entire premium is paid in a lump sum at the policy's inception and allows the policy owner to select from a menu of managed stock, bond, and money market subaccounts or a fixed account for the investment of the premium.

A single premium whole life insurance policy is a single premium life insurance policy where the entire premium is paid in a lump sum at the policy's inception.

Single State Registration System (SSRS) is used for registering interstate motor carriers' operating authority and proof of insurance with one base state rather than with each individual state in which it travels.

A sinkhole collapse is a sudden sinking or collapse of land into underground empty spaces created by the action of water on limestone or similar rock formations.

A sistership liability exclusion is a general liability exclusion applicable to damages claimed for the withdrawal, inspection, repair, replacement, or loss of use of the named insured's product or work completed by or for the named insured or of any property of which such products or work form a part.

Situs is one of two tests utilized to determine if an employee qualifies as a longshoreman or harbor worker under the Longshore and Harbor Workers' Compensation Act (LHWCA).

In commercial automobile insurance, size class describes the type and weight of the automobile—that is, gross vehicle weight for trucks, gross combined weight for trucks-tractors, and load capacity for trailers.

Skilled nursing care refers to a high level of care including services that can only be performed safely and correctly by a licensed nurse (either a registered nurse or a licensed practical nurse) or therapist (such as physical, speech, or occupational).