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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.

Single liability

When two ships collide, the shipowner with the greater share of the blame pays the other the difference between their respective liabilities; according to maritime law there are not two liabilities. However, marine hull policies provide that claims shall be settled on the basis of cross liabilities.

Single limit

A general term used to refer to coverage expressed as a single amount or single limit.
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An insurance coverage which is expressed as a single amount of insurance, or a single limit of liability.
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In liability Insurance, overall maximum on the Insurer’s liability for all types of bodily injury, property damage or personal injury claims growing out of one accident, regardless of the number of persons suffering injury. Compare with ‘Split limit.’

Single market agreement

Any agreement that extends across a single market, i.e. marine, aviation or non-marine, only. They may be joint agreements between Lloyd’s underwriters and insurance companies. Examples include leading underwriters’ clauses in all three markets, the ‘companies collective signing agreement’ (non-marine) and the Marine Waterborne Agreement.

Single organ system examination 1997 guidelines

Examinations other than eye or psychiatric examinations should include performance and documentation of at least 12 elements identified in a table by a bullet (•), whether in a shaded or unshaded box. Eye and psychiatric examinations should include the performance and documentation of at least nine elements identified in a table by a bullet (•), whether in a shaded or unshaded box.