All nonexempt assets of the bankrupt person are liquidated and are distributed according to the law to the creditors. Secured creditors are first in line for payment of all secured debt. Unsecured creditors are last. Also called Chapter 7 bankruptcy or absolute bankruptcy .
Insurance Encyclopedia
straightforward (SF)
Minimal type of medical decision-making.
straightforward (SF) medical decision-making
One of four types of medical decision-making that indicates a minimal number of diagnoses, zero to minimal data or complexity of data to be reviewed, and minimal risk of complications and/or morbidity or mortality.
Stranded
A term used to describe a ship that has run aground.
Stranding
Contact with the sea bed or other obstruction and the vessel or craft must remain for a reasonable period time hard and fast. (ii) The running a ground of ship or vessel.
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UK: Occurs where a vessel takes the ground in an unusual manner and remains hard and fast for an appreciable length of time owing to some extraneous and accidental cause and not in the ordinary course of navigation.
Strategic asset allocation
An investment strategy that determines what percentage of your assets are held across financial assets: namely cash, bonds and stocks.
Strategic national implementation process
Workgroup on Electronic Data Interchange’s (WEDI’s) national effort for helping the health care industry identify and resolve any Health Insurance Portability and Accountability Act (HIPAA) implementation issues.
Strategic risk
Group of risks impacting on strategy and long-term plans of the organisation. The risk groups include: market and customer trends; economy/ policitical stability; competition; tactical decisions (investments, mergers, etc.); achieving predicted performance; major catastrophe/incident, including reputational risk; ethics, culture; corporate governance. They demonstrate the need for holistic risk management.
Stratification of Losses
Classification of losses (either individual losses or annual total of loss) into categories of rupee size in order to analyze the likelihood of various levels of loss severity and to make appropriate decisions for financing or controlling these losses.
Street works (or Road and Highways Act) bond
A performance bond that guarantees to a highway authority that a building developer will fulfil his obligation to construct roads on the estate or area of his development. The bond is usually 100 per cent of the construction costs involved.