1. Compound used in making dental impressions and medical molds. 2. Mold or device made of stent, used in anchoring skin grafts. 3. Rod or threadlike device for supporting tubular structures during surgical anastomosis or for holding arteries open during angioplasty.
Insurance Encyclopedia
Step therapy
In Medicare Part D plans, requirement that a certain drug be tried before another drug is covered by an insurance plan.
Step-down unit
See: intermediate unit .
Step-rate premium
Type of insurance rating structure in which premiums may be increased at predetermined times (e.g., at renewal, policy years, or insured’s age).
Step-rate premium (Health Insurance/Life Insurance)
A premium increased at certain predetermined times in the insurance policy. This is usually done in connection with the policy existing for a certain amount of years.
Stipulation
A policy condition that does not got to the root of the contract so that a breach of it does not enable the insurer to escape his liability. The insurer’s remedy is a suit for damages.
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UK: Policy condition that does not go to the root of the contract. A breach does not affect the insurer’s contractual liability but does entitle him to sue for damages. The requirement that an insured should submit a wages declaration under an adjustable policy is a stipulation.
Stochastic model
Analysis involving a random variable. For example, a stochastic model may include a frequency distribution for one assumption. From the frequency distribution, possible outcomes for the assumption are selected randomly for use in an illustration.
Stock
(i) Insurance Company that issues stock as compared to a mutual Insurance Company. (ii) Merchandise as compared to fixture, machinery or furniture.
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Merchandise held in storage or for sale, raw materials, and in-process or finished goods, including supplies used in their packing or shipping.
Stock (Property Insurance)
Materials that have not yet finished the manufacturing process or merchandise items that are for sale.
Stock bonus plan
Employee-benefit plan in which a portion of the employees’ salary is in the form of the employer’s stock.