See: “Engineer.”
Insurance Encyclopedia
Safety Deposit Box Insurance
A form of insurance against the loss of property from a bank safety deposit box.
Safety margin
Degree by which actuaries increase the probability of mortality for each age group in a mortality table for life insurance. This protects the insurance company from adverse experience.
Safety policy
Clear plan that every employer must have for keeping the workplace safe. Those employing more than five workers at a time must have a written safety policy (HSWA, s.2). The policy must cover how safety is to be maintained and kept up to date, and the ensure that employer must employee knows the content of the policy. every
Safety Solvent
Cleaning solvent which is free from Fire or toxicity hazards and is non-damaging to surfaces or materials being cleaned. To enhance its safety, such a solvent comes with instructions and information regarding its potential toxicity, flammability and explosiveness.
Said to Contain
Disclaimer noted on a bill of lading that the vessel carrying the cargo did not verify the type, quantity or condition of the cargo when the vessel received the loaded and sealed container.
Sailing for Different Destination
Where the destination is specified in the Policy and the ship instead of sailing for that destination sails for any other destination, risk does not attach.
Sailing Vessels Tariff (Indian)
The tariff is applicable to all selling vessels (merchandised or non-merchandised) value up to Rs. 20 lakhs. All sailing vessels forming part of a ‘major fleet’ should also be treated according to the tariff.
Sailing warranty
Implied warranty in a voyage policy on a ship that the voyage will proceed with reasonable despatch. Unreasonable delay may increase the hazards so permitting the insurer to avoid the policy.
Salaried sales agents
Insurance sales representatives who are paid hourly instead of by commissions. Also known as salaried sales representatives.