Weather derivative based on the number of hours sunshine recorded in a given location over a specified period. Holiday resort businesses receive a payout when the recorded hours of sunshine are below the reference point and exceed the strike. See PLUVIUS POLICY.
Insurance Encyclopedia
SUP
the FSA’s Supervision manual
Super Tanker
The term super tanker are used for mammoth tankers of 75,000 to 150,000 DWT tons, 150,000 to 300,000 DWT tons and 300,000 DWT tons and over, respectively.
Superbill
See: multipurpose billing form.
Superbill (Health Insurance)
A document that lists every service provided by a certain doctor.
Superimposed major medical plan
Health insurance plan that has basic medical expense coverage plus benefits for expenses that go above this coverage.
Superintendent of insurance
A title given to the head of an insurance department in some states or provinces. The term “commissioner,” which refers to an equivalent position, is used more frequently.
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In some states the commissioner of insurance is known as the superintendent.
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MEDICAL, US: See: Commissioner of Insurance .
Superseded Surety Ship Rider
Endorsement attached to a new fidelity or surety bond which is taking the place of another expiring or cancelled bond, agreeing to pay losses that would be recoverable under the first bond had the first bond’s discovery period not expired. See Also: “Discovery period.”
Superseded suretyship
The acceptance, in a bond, of liability for claims that cannot be recovered from the prior bond because its discovery period has ended. The discovery period is normally one year.
Superstandard risk class
See: preferred risk class .