A self-insured group. A SIG is a group of risks, usually sharing common characteristics or exposures, that join together in order to generate enough premium volume to justify self-insuring themselves. Members of a SIG often are jointly and severally liable for the losses of one another.
Insurance Encyclopedia
Sight Draft
A draft payable upon presentation to the drawee. Compare date draft and time draft.
Sigmoidoscopy
Process of using a sigmoidoscope to examine the sigmoid colon to identify disorders or early signs of cancer.
Sign
Objective symptom of a disease from a normal condition or that which is observed by an examiner.
Signature
A clause in a Policy form requiring signature by the Insurer.
Signature log
List of all staff members’ names, job titles, signatures, and initials . Example of a signature log.
signature on file (SOF)
Brief statement that contains the patient’s signature authorization retained in an office file for future use when mailing claims or transmitting electronic claims. It allows the provider to submit assigned and nonassigned insurance claims on the beneficiary’s behalf.
Signed line
UK: same as closed line (see also written line).
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The underwriter’s participation in a risk after the lines have been reduced, as necessary, to total 100% of the actual amount at risk.
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This refers to the amount of a given risk that an underwriter has agreed to accept. It may be the same as the underwriter’s written line or, if there is signing down, a lower amount. The amount of a syndicate’s signed line should be shown in a table in the policy, where one is issued.
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UK: Underwriter’s participation in a risk after the lines have been shortclosed from the written line (on the slip) to 100 per cent of the amount at risk.
Significant finding
Sign or symptom from a normal condition or important normal observation that assists in making a diagnosis of the patient’s problem.
Significant influence
The influence that an approved person has over any of the controlled functions (1 to 20 in the FSA’s table of controlled functions). Persons with significant influence must: (a) take reasonable steps to ensure that the firm’s regulated business is so organised that it can be controlled effectively; (b) exercise due skill, care and diligence in managing that business; and (c) take reasonable steps to ensure that the business complies with relevant regulatory requirements. (Visit www.fsa.gov.uk).