HCPCS Level II modifier that may be used with CPT or HCPCS Level II codes indicating persons who are in close contact with members of a high-risk population (use only with codes for immunization).
Insurance Encyclopedia
Sympathetic damage
Where damaged cargo taints other cargo, the resultant loss is known as sympathetic damage. If the original damage was occasioned by an insured peril without any intervening cause then the sympathetic damage is covered by the policy. Goods liable to cause this type of damage include: hides and skins, certain cheeses, guano and carbon disulphide.
Sympathetic Damage for Damages in Transit
Damage to cargo by way of taint or the like arising from the proximity of other cargo.
Symptom
Change in normal bodily function, appearance, or sensation; any indication of disease perceived by the patient.
Syndicate
A group of insurers or underwriters who join to insure property that may be of such total value or high hazard that it can be covered more safely or efficiently on a cooperative basis. Also, See Also: “Pool.”
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A group of insurers who insure a high value item or property together. The item receives better coverage through this message.
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UK: A grouping of Lloyd’s underwriters. See LLOYD’S SYNDICATES.
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UK: a member or group of members of Lloyd’s on whose behalf insurance is accepted by an underwriting agent; a syndicate trades for a single underwriting year and usually closes two years after the end of that year by payment of a reinsurance to close premium to the same numbered syndicate formed for the following underwriting year..
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An association of insurers that work together to insure an especially large or hazardous risk. Also see Pool.
Syndicate (See Association, Pool.)
Lloyd’s Syndicate refers to an entity composed of corporate and/or individual members formed for the purpose of underwriting insurance and/or reinsurance at Lloyd’s, London.
Syndicate allocated capacity
The maximum amount of business that can be written by a Lloyd’s syndicate, based on the capacity of all members of the syndicate.
Syndicate business forecast
Document that must accompany the regulatory business plan covering business forecasts for the open years and the coming financial year. The forecast has to be in a standard electronic form.
Syndicate pseudonym
The unique number issued to each syndicate at Lloyd’s and by which it is subsequently identified. When subscribing to a risk an underwriter adds his syndicate number for transfer onto all documentary and computer entries. Each syndicate is allocated a unique three letter pseudonym to add to the syndicate number. The Lloyd’s central accounting facility rejects any entries where the number and the pseudonym are not compatible.
Syndicate quota share reinsurance
Provides a way for participation in risks underwritten at Lloyd’s from outside the Lloyd’s market. Lloyd’s allows a syndicate to enter into quota share reinsurance with a non-Lloyd’s reinsurer that it has approved. The reinsurance itself: (a) must not exceed 20 per cent of syndicate capacity although higher levels may be specially agreed; and (b) must relate to categories of business representing at least 15 per cent of the syndicate’s capacity.