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Special Damages

Amount awarded in litigation to compensate for specific identifiable economic loss.
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Special damages include such items as medical expense, cost to repair or replace damaged property and loss of earnings. General damages represent an amount to compensate for intangible loss claimed by the injured party such as pain and suffering, mental anguish and bereavement. These Special Damages are usually computed up to the date of settlement of judgment.

Special Declaration Policy

This Policy is introduced by the All India Marine Cargo Tariff. It can be issued to the insured having minimum annual estimated despatches i.e., annual turnover of at least Rs. 2 Crores for the individual Company concerned. There is prohibition on issue of this Policy to transport operator/contractors, clearing, forwarding and commission Agents or freight forwarders either in their own name or jointly with the owners of the goods, except on goods owned by them. The Policy is not assignable or transferable, and shall be issued for a period of 12 months. Marine Tariff and SDP Policy is no longer in use.

Special drawing rights (SDRs)

An international reserve asset that measures and compares the changing value of international currencies. An SDR is expressed daily by reference to a basket of currencies and is used in international conventions (e.g. Warsaw Convention) and conditions of contract as a measure of value or limit of liability.

Special election period

Time in which an individual is given a special election period to change Medicare+Choice plans or return to Original Medicare in certain situations. Situations in which this occurs include (1) when a person makes a permanent move outside the service area, (2) when the Medicare+Choice organization breaks its contract with the insured or does not renew its contract with the Centers for Medicare and Medicaid Services (CMS), or (3) when other exceptional conditions determined by CMS apply. The special election period is different from the special enrollment period (SEP). See election period .

special enrollment period (SEP)

One of four periods during which an individual can enroll in Medicare Part A. SEP is for people who did not take Medicare Part A during their initial enrollment period (IEP) because they currently work and have group health plan coverage through their employer or union. He or she can sign up for Medicare Part A at any time they are covered under the group health plan based on current employment. If the employment or group health coverage ends, the individual has 8 months to sign up. The 8 months start the month after the employment ends or the group health coverage ends, whichever comes first. See also initial enrollment period (IEP), general enrollment period (GEP), and transfer enrollment period (TEP).

Special form

In contrast to the named perils forms in property insurance, those forms that list specific perils for coverage, the special form contract covers simply risk of direct physical loss, relying on exclusions to limit and define the protection intended. See Open perils.