Sports Insurance Glossary : Letter S

Schedule - A list describing the property or items insured under the policy and the extent which they are insured.

Self-Insurance - A form of risk financing through which a firm assumes all or a part of its own losses. Self-Insurers may purchase insurance to cover excess losses.

Specified Perils - (See Named Perils)

Stop Gap Endorsement - Provides employer liability coverage for work-related injury arising out of incidental operations or exposures in the monopolistic fund states (as of October, 2001, the monopolistic states are: North Dakota, Ohio, Washington, West Virginia and Wyoming).

Subrogation - A principle of law incorporated in insurance policies that enables the insurance company, after paying a loss to its insured, to recover the amount of the loss from another who is legally liable for it.