A clause found in liability policies under which the insurer will pay certain costs.
Insurance Encyclopedia
Supplementary statement
Under the National Association of Insurance Commissioners Model Privacy Act, written notice to correct erroneous information made by an individual who has been investigated. This statement is kept in the person’s file and is available to anyone reviewing the disputed information.
Supplier
1. Institution, company, individual, or agency that furnishes a medical item or service such as a wheelchair or walker. 2. In Medicare, suppliers are distinguished from providers including hospitals and skilled nursing facilities. Institutions classified as providers are reimbursed by fiscal intermediaries and suppliers including physicians, durable medical equipment companies, medical-surgical supplies, nonhospital laboratories, and ambulance companies are paid by insurance carriers.
Supplier default cover
A credit insurance term to describe an insurance against loss due to the insolvency of a supplier.
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Credit insurance cover against consequential loss arising from the insolvency of a supplier.
Suppliers’ extension
Business interruption policy that protects the insured against loss of gross profit following damage by an insured peril at the premises of a supplier, named or unnamed. Cover is expressed as a percentage of the gross profit to reflect the significance of the supplier(s).
Supply Bond
A guarantee that materials will be delivered and goods produced at the times required to enable a contract to be fulfilled.
Supply bonds
Bonds that guarantee performance of a contract to furnish supplies or materials. In the event of a default by the supplier, the surety indemnifies the purchaser of the supplies against the resulting loss.
Supply of Goods and Services Act 1982 (as amended)
Any goods supplied under contracts govern by the Act must conform to the implied terms stated in the Sale of Goods Act 1979. In addition any service provided must be carried out: (a) with reasonable skill and care; (b) for a reasonable price (unless a price has been agreed); (c) within a reasonable time (unless time is made of the essence, i.e. a date has been agreed at the time of making the contract).
Support groups
Three or more individuals who share a common bond and come together on a regular basis to share problems and experiences. These groups may be sponsored by social service agencies, senior centers, religious organizations, hospital facilities, and charitable nonprofit organizations.
Supportive data
Information that substantiates and authenticates an incident such as author of the document, creation date, accessed date, and modified date. Also called metadata .