This term made its appearance in the 1940s and is a type of coverage for health care expenses provided by a federal government. Also called statutory health insurance . See also national health insurance and universal coverage .
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Socially responsible investment (SRI)
Occupational pension scheme trustees are required to include a statement in the Statement of Investment Principles on the extent to which social, environmental or ethical considerations are taken into account in the selection, retention and realisation of investments.
Society margin (Society of Lloyd’s)
Required minimum margin (RMM) for the Society of Lloyd’s. It must maintain the RMM it would have been obliged to maintain under IPRU(INS) (Margins of solvency) had it been an insurer carrying on all the general insurance business carried on by its members, but eliminating inter-syndicate reinsurance (the Society guarantee fund). The Society must cover any shortfall out of its net central assets.
Society of Chartered Property &
Casualty UnderwritersProfessional society of those having attained the CPCU designation. See CPCU.
Society of Fellows
Created by the Chartered Insurance Institute to encourage continuing study by Fellows of the Chartered Insurance Institute. Its wideranging objectives include stimulating research and contributing to the enhancement of the CII as a professional body.
Society of Financial Advisers (SOFA)
Part of the Chartered Insurance Institute, it is the UK’s leading professional and educational body for financial advisers. SOFA has the largest number of members qualified to an advanced level in financial planning. It encourages professional development through qualifications, conferences, seminars, etc. There are four levels of SOFA designation. The entry level qualification is the Financial Planning Certificate. The penultimate level is the Associateship – ASFA necessitating six Advanced Planning Certificate subjects, three of which give access to professional membership, MSFA. The highest level is Fellowship FSFA after four additional subjects, making ten in total and is subject to five years’ relevant experience. (Visit www.sofa.org). –
Society of insurance research
A group that promotes insurance research and the exchange of ideas between researchers.
Society of Interventional Radiology (SIR)
Professional society for physicians who specialize in interventional or minimally invasive procedures. SIR is a nonprofit, national scientific organization deeply committed to its mission to improve health and the quality of life through the practice of cardiovascular and interventional radiology. The society promotes education, research, and communication in the field while providing strong leadership in the development of health care policy. Formerly known as the Society of Cardiovascular and Interventional Radiology (SCVIR) .
Society of Lloyd’s
The Society incorporated by Lloyd’s Act 1871 by the name of Lloyd’s.
socioeconomic monitoring system (SMS)
Annual survey of physicians by the American Medical Association that provides information about physicians’ earnings, expense, work patterns, and fees.