Place where the stop-loss insurance company assumes liability.
Insurance Encyclopedia
Stop-loss insurance
Type of insurance coverage purchased by an employer to limit the losses under a self-insurance medical plan. Two types are specific stop loss and aggregate stop loss.
Stop-loss insurance (Health Insurance)
A kind of reinsurance taken by a health plan or an employer plan funded by the employer. The plan covers the plan for losses over a certain amount. This is done on a case by case basis or a total basis over a certain time frame.
Stop-loss provision
Clause in a health insurance policy that states the insurance company will pay 100% of the insured’s eligible medical expenses after the insured has met a certain amount of expense (coinsurance).
Stop-loss reinsurance
Reinsurance purchased to protect an insurance company (cedent) against an aggregate amount of insurance claims over a specific time period. This type of plan does not cover individual claims.
Stopgap endorsement
Provides employer liability coverage for work-related injury arising out of incidental operations or exposure in the states that have monopolistic state funds.
Storage risk
Fire insurance term in respect of warehouse storage of property in bulk. The risk depends on the nature of the goods and any increase in risk due to the way they are stored. Even nonhazardous goods may be rated-up when stored in bulk.
Storekeeper’s burglary and robbery insurance (Criminal)
A package coverage policy that covers storekeepers against seven criminal hazards. Separate limits apply to each type of coverage, which must be purchased as a package.
Storekeeper’s liability policy (Liability Insurance)
A policy that covers property damage liability as well as bodily injury for storekeepers. The policy is issued as a package and only covers claims that arise in the everyday operation of the business.
Storekeepers Burglary and Robbery Insurance
A type of package crime policy designed for a storekeeper which provides coverage on various crime hazards.