This is the insured’s interest in the subject-matter of the insurance. The insurer cannot guarantee to restore the goods or cancel a liability but they can protect the insured’s interest against financial loss.
Insurance Encyclopedia
Subjective
Perceived by the individual only and not evident to the examiner (e.g., pain).
Subjective factors of disability
In a workers’ compensation case, symptoms that interfere with the injured worker’s ability to work that cannot be objectively measured and are obtained from the injured worker’s description of symptoms (e.g., pain or emotional symptoms that limit specific activities).
Subjective information
Data that cannot be measured, typically referred to as “symptoms.”
Subjective Probability
An estimate of loss frequency based on logical reasoning and personal judgment.
Subjective Risk
The risk based on the mental state of an individual who experience uncertainty or doubt as to the outcome of a given event.
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Chance of loss as measured by subjective probability, or judgment, rather than statistics.
Sublimit
A limit that exists inside another limit.
Submitted business
New business applications turned in to an insurer but not yet accepted or declined.
Submitted Business (Or Proposal)
Application for insurance submitted to an insurer but not yet acted upon by it.
Submitted charge
Bill sent by a health care provider to the third-party payer or to the patient.