Insurance Terms
Acronyms - S
- SAC - separate account company
- SAP - statutory accounting principles
- SARs - Stock Appreciation Rights
- SAWW - statewide average weekly wage (workers' compensation)
- SBLI - Savings Bank Life Insurance
- SCC - segregated cell captive
- SCLP - Simplified Commercial Lines Portfolio Policy
- SCOH - statistical coding occupancy hazard
- SCOPE - supervision, construction, occupancy, protection, exposure
- SCR - solvency capital requirement
- SCR - standard class rate
- SEGLI - Service Employees Group LIfe Insurance
- SERP - Supplemental Extended Reporting Period
- SEUA - South-Eastern Underwriters Association case
- SF - standard fire form
- SFIP - standard flood insurance policy
- SFP - standard fire policy
- SIG - self-insurance group
- SIR - self-insured retention
- SIRP - self-insured reimbursement policy
- SK - storekeepers (liability)
- SL - sprinkler leakage coverage
- SLR - stop-loss reinsurance
- SMP - special multiperil insurance
- SPAP - special personal auto policy
- SPC - segregated portfolio company
- SPV - Special Purpose Vehicle
- SR - short-rate cancellation
- SR - short-rate, short-term insurance
- SR&CC - strikes, riots, and civil commotions
- SSAP - Statement of Statutory Accounting Principles
- STD - short-term disability insurance
S
Acronyms - T
- TDB - temporary disability benefits
- TDI - trade disruption insurance
- tech E&O - technology errors and omissions insurance
- TERI - targeted enterprise risk insurance
- TIAA-CREF - Teachers Insurance and Annuity Association-College Retirement Equities Fund
- TIV - total insurable value
- TLO - Total Loss Only insurance
- TTD - temporary total disability
T
Acronyms - U
- UCD - unemployment compensation disability insurance
- UCI - unemployment compensation insurance
- UEP (also UP) - unearned premium
- UEPR (also UPR) - unearned premium reserve
- UIM - underinsured motorist coverage
- UIMV - underinsured motor vehicle
- UL - umbrella liability policy
- ULAE - unallocated loss adjustment expense
- UM - uninsured motorist coverage
- UMPD - uninsured motorist property damage
- UMV - uninsured motor vehicle
- UNL - ultimate net loss
- U&O - use and occupancy insurance
- UP (also UEP) - unearned premium
- UPR (also UEPR) - unearned premium reserve