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Single Buoy Mooring (SBM)

A single buoy mooring also known as single point mooring is a loading buoy anchored offshore that serves as a mooring point and interconnect for tankers loading or offloading gas or fluid products. Very Large Crude Carriers (VLCC) cannot berth at a lot of ports owing their higher drafts. SBMs can easily be installed in deeper waters. The VLCC can connect to the SBM buoy which is anchored offshore at depths comfortable for such large vessels and transfer the crude to the SBM from where in it reaches the storage terminal on the shore via sub-sea pipelines connected between the SBM and the storage terminal.

Single Buoy Mooring Insurance

Wordings ITC Hulls Port Risks – 20.07.1987 (Named Perils Policy). Covers physical damage, salvage, wreck removal (limited cover), third party liability – property and life (Limited cover), damage to vessel by government authority to prevent pollution hazard and sue and labour. The perils covered are perils of the seas, rivers, lakes or other navigable waters, fire, lightning, explosion, contact with aircraft or similar objects or object falling therefrom, land conveyance, dock or harbor equipment or installation, accidents in loading, discharging or shifting of cargo or fuel and latent defects. Key exclusions are SRCC and terrorism (add on cover), Earthquake and volcanic (add on cover), nuclear exclusion and war exclusion. SBM pipeline is covered as per London Standard Pipeline Form (All Risk Cover). Exclusions are oil and gas in the pipeline, gradual wear and tear, delay, scraping/coating/painting unless as a direct result of loss/damage. SBM Cargo: Coverage as per wordings of Institute Bulk Oil Clauses – CL.273 (Named peril cover). SBM Third Party Liability: Coverage as per wordings: LSW-244/245.

single drug pricer (SDP)

Drug pricing file containing the allowable price for each drug covered that is incident to a physician’s service, drugs furnished by independent dialysis facilities that are separately billable from the composite rate, and clotting factors to inpatients. The SDP is, in effect, a fee schedule, similar to other Centers for Medicare and Medicaid Services (CMS) fee schedules.

Single insurance market

Market allowing EC insurers to set up establishment business, e.g. branches, in any other state without being subject to host state restrictions. Also an insurer authorised in its home state can engage in service business by selling freely across national frontiers. The EC has published three generations of Insurance Directives. The effect is to make EC insurers subject to home country control creating an authorisation known as the ‘Single European Licence’.

Single interest policy

A policy that insures the interest of only one party in property where there are a number of parties having an insurable interest.
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Insurance protecting the interest of only one of the parties having an insurable interest in certain property, as the protecting a mortgagee but not the mortgager, or protecting the seller but not the buyer of merchandise.