SWIFT is an acronym for “Single Window International Facultative and Treaty.”
Insurance Encyclopedia
Swing bed
Bed used for acute or long-term care facilities usually located in small and rural hospitals. A patient in a swing-bed in an acute care setting may be discharged and readmitted to a swing bed and receive skilled or intermediate levels of care. A patient may remain in the swing bed while changes occur in medical care, charges, and payment.
Swing rated policies
policies of insurance or reinsurance where the initial premium is subject to variation depending upon claims experience (see also Burning cost).
Swing Rating
See: Rating- Retrospective Rating.
Switch maternity (Health Insurance)
A provision under which female employees who participate in a group health plan are only covered if their husbands are listed as dependents under the plan.
Switching investments
Most insurance companies issuing investment bonds and unitised funds offer a variety of investments linked to property, equity, managed and fixed-interest funds, and sometimes cash or gilt funds. In return for a fee most will permit the holder to switch his investment from one fund to another. As the money remains invested in the same life policy liability to tax does not arise as happens when shares are sold.