Reinsurance that a second reinsurer accepts through a surplus treaty. The amount is equal to the difference between the original reinsurer’s retention and the total limit of the first treaty.
Insurance Encyclopedia
Second surplus treaty
A supplementary treaty to a first surplus treaty. Cessions may only be made to the second surplus after the capacity of the first treaty has been satisfied.
Second-injury fund
Special fund that assumes all or part of the liability for benefits provided to a worker because of the combined effect of a work-related impairment and a preexisting condition; also known as subsequent injury fund (SIF) .
Second-to-die life insurance
See: survivorship life insurance .
Secondary
Second in order of time, place, or importance such as that seen during the course of another disease or condition.
Secondary beneficiary
See: alternate beneficiary or contingent beneficiary .
Secondary beneficiary (Life Insurance)
A person designated to receive the benefits of a policy if the person named as a beneficiary has died before collecting or if some payout remains when the first beneficiary dies.
Secondary care
Medical services provided by medical specialists who generally do not have first contact with patients (e.g., cardiologists, urologists, dermatologists). In managed care plans, the patient is seen by the primary care physician and then may be referred to secondary and/or tertiary providers as needed.
Secondary care (Health Insurance)
Medical care from doctors who do not see a patient at his or her initial visit. Patients usually have to be referred to these providers by a primary care physician.
Secondary carrier / secondary insurance
See: secondary insurer .