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Shared risk

Arrangement in a managed care plan in which the provider and health plan share the risk for excessive utilization and/or excessive costs of plan members. It is used to give financial incentive to managed care providers for giving cost-effective, high-quality care. Also called risk sharing or risk pool.

Shared savings

Insurance provision of managed care plans in which a portion of the providers’ income is linked to the financial performance of the plan. When costs are lower than predicted, a percentage of the savings is given to providers.

Sheep and Goat Insurance

The policy covers Sheep and Goat (4 months to 7 years)-all indigenous (whose parents are of Indian Breed) cross bred (means one of whose parents is of foreign breed) and exotic (whose parents are of foreign breed (this includes animals born in India as well as those born abroad). The coverage include death of sheep and boats due to accident including Fire, Lightning, Flood, cyclone, Famine, Strike, Riot and Civil Commotion or disease contracted or occurring during period of insurance. Policy exclusions are similar to Cattle Insurance. In addition Enterotoxaemia, Sheep Pox, Goat Pox, Rinderpest, FMD, Anthras, H.S., B.Q. and Tetanus are covered only if the animal is successfully inoculated.

Sheep Insurance

the Insurance cover all indigenous, cross-bred and exotic sheep and the Policy shall provide indemnity against death of sheep due to accident including Fire, lighting, flood, cyclone, famine, strike, riot and civil commotion or disease contracted or occurring during the Policy period.

Ship

The First Schedule (rule 15) of the Marine Insurance Act 1906 states that the term ‘includes the hull, materials and outfit, stores and provisions for the officers and crew, and in the case of vessels in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers, and coals and engine stores, if owned by the assured’.
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Ship includes the hull, materials and outfit, stores and provisions for the officers and crew and in the case of vessels engaged in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers and coals and engine stores, of owned by the insured.

Ship Builders Risk Insurance

Institute Clauses for Builders Risks 01.06.1986 : Subject Matter of Insurance: The section has two sections (I) Section I-(i) Hull and Machinery etc under construction at the yard or other premises of the builders. (ii) Machinery etc while under construction by the sub-contractors. Section II-Machinery etc the insurance on which attaches from the time of delivery to builders. The subject matter is covered whilst at builders or sub-contractors yards within the port or place of construction and whilst in transit between such locations. Other transits are held covered at additional premium. Commencement of Insurance: A provisional period is stated under each section commencing from a particular date, but the insurance is terminated upon delivery of the vessel to the owners if prior to expiry of the provisional period. Delayed Delivery: Held covered for not more than 30 days from the completion of builders trials. Perils: All Risks of loss or damage. Insured Value: Provisional. Insurance to be based on the final contract price or total building cost plus an agreed percentage whichever is higher, subject further it should not be more than 125% of the provisional value.