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Glossary S-T


safe burglary insurance

safe deposit box coverage

safe depository coverage

Saffir-Simpson scale

sale bond


salesmen's samples coverage

saline substances contamination endorsement


salvage value

Sarbanes-Oxley Act (SARBOX, SOX, SOx)


schedule bond

scheduled limits

scheduled loss

'Schedule P' reserve

schedule rating

school board legal liability insurance

school board liability coverage

screening clients/cases

Sears, Roebuck Co. v. Commissioner

seasonal risk

secondary beneficiary

secondary classification—special industry class

second surplus reinsurance

Securities Act of 1933

securities class action claims

securities deposited with others coverage form J

Securities Exchange Act of 1934

securities insuring agreement

securities valuation reserve


securitization of risk

security holder exclusion

security requirements

Seedsmen's Errors and Omissions Liability Insurance

segregated cell captive (SCC)


selected tender


self-contained policy


self-insurance pool

self-insured retention (SIR)

self-insurer's bond

self-procurement taxes

self rating

selling price clause or endorsement

separate account

sequential-cause situation

service fulfillment insurance

servicing contractors rider

settlement lag

settlement options

settlement programs

severability of exclusions

severability of interests clause

severability provision in D&O applications

several liability

severance pay


sexual abuse exclusion

sexual harassment

share reinsurance

share repurchases

Sharpe ratio

shortfall risk

short-rate cancellation

shrinking limits defense provision

Side A coverage

Side A-only coverage

Side B coverage

sidecar reinsurance

Side C coverage

sidetrack agreement

signaling capital

significant deviation


silo factor

simulation risk modeling method (often called Monte Carlo method)

Single entity coverage

single-entry, multichannel interface (SEMCI)

single interest insurance

single-owner captive

single-parent captive

single premium insurance

single state registration system (SSRS)

sinkhole collapse


sistership liability exclusion

size class



sleep insurance

sliding scale

sliding scale commission

sliding scale dividend


small quantity generator

soft costs coverage

soft market

soft target


solvency margin

solvency ratio

sophisticated insured

source revelation provisions


Spearin doctrine

special acceptance

special causes of loss form (ISO)

special crime insurance

special damages

special employer

special flood hazard areas (SFHA)

special investigative unit (SIU)

special litigation committee (SLC)

special mobile equipment

special or specialty risks

Special Personal Auto Policy (SPAP)

special purpose vehicle (SPV)

specialty risks

special waiver


specific excess insurance

specific limits

specific loss limit

specific rating

specified causes of loss coverage

specified perils coverage

speculative risk

speed to market

split dollar plans


sponsored captive

spousal coverage

spousal coverage extension

spread loss reinsurance

spread of risk

spread sectors

sprinkler leakage coverage



stabilization reserve


staff model HMO

stair stepping

stamp duty

stand-alone terrorism coverage

standard deviation

standard exceptions

standard fire policy (SFP) jurisdictions

standard form or standard policy

Standard Industrial Classification (SIC)

standard premium

standard property policy (ISO)

stare decisis

stat card

State Emergency Response Commission (SERC)

state funds

State Implementation Plans (SIP)

statement blank

static risk modeling

statistical method

statute of limitations

statute of repose

statutory accounting principles (SAP)

statutory capital

statutory coverages

statutory inspections

statutory insurance

statutory law

stay of proceedings

stevedores legal liability coverage



stochastic dominance

stock captive

stock company

stock option

stock option claims

stop gap endorsement

stop loss

stop-loss reinsurance (SLR)

storekeepers broad form

storekeepers burglary and robbery policy

storm surge

Stowers Doctrine

straight life policy

strategic risk

strategic risk management

strict liability

strike coverage

strike price

strikes, riots, and civil commotions (SR&CC) warranty

strike-through clause

structural risk modeling methods

structured finance

structured settlement


subcontractor default insurance

subcontractor exception

subguard insurance

subject business

subjective symptoms

subject of insurance

subject policies

subject premium



Subpart F income


subpoena duces tecum

subprime loans


subrogation provision

subrogation release

subrogation waiver



substitute physician coverage endorsement

'sudden and accidental'

sue and labor clause

summary judgment


sump pump


superintendent of insurance

superseded surety rider

supervision coverage

supplemental extended reporting period (SERP)

supplementary employee retirement plan (SERP)

supplementary payments


surety bond


surplus line

surplus lines broker

surplus lines insurance

surplus notes

surplus reinsurance

surplus relief

surplus share



survival action

suspension of coverage endorsement




system safety approach

systems performance insurance



10/10 Rule

T3 Lloyd's Form


tail coverage

Tail Value at Risk (Tail VaR) or Tail Conditional Expectation (TCE)

targeted enterprise risk insurance (TERI)

targeted tender

target risk


tax acceleration

tax factor

tax harmonization

tax interruption coverage

tax multiplier

tax opinion insurance

Tax Reform Act (TRA)

Technical and Miscellaneous Revenue Act of 1988 (TAMRA)

technique of operations review (TOR) system

technology errors and omissions insurance (Tech E&O)



Telephone Consumer Protection Act of 1991 (TCPA)

temporary partial disability

temporary total disability

tender of defense

tender offer defense expense

terminal coverage

terminal operator


term life insurance


terrorism endorsement

terrorism insurance

Terrorism Risk Insurance Act (TRIA)

Terrorism Risk Insurance Extension Act (TRIEA)

Terrorism Risk Insurance Program Reauthorization Act (TRIPRA)

tertiary beneficiary

testing coverage

test modifier

that particular part

theft, disappearance, and destruction of money and securities coverage form C

thermal pollution

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Our Location

Santa Maria & Company

1550 Parkside Drive, Suite 200
Walnut Creek, CA 94596
Main office: 925-956-7600
Toll free: 866-921-3347
Fax: 925-956-7601

Our Providers


I found the rare breed of insurance company that fights for you and stands by you. If you are looking for an insurance company that has integrity and amazing customer service, I would hands down, wholeheartedly recommend Santa Maria

Eli I., Remodeling Contractor
As a home builder in Northern California, I have endured numerous complicated issues while trying to protect my business from unforeseen liabilities, satisfying the multiple requirements of individual municipalities, and doing so at a reasonable expense. Santa Maria and Company has been instrumental in these dealings by providing quality advice, creative alternative solutions, and excellent service.

Dennis C., Home Builder
Santa Maria & Company helped guide our business through a difficult time by being proactive, informing us of potential obstacles, and avoiding surprises. Their customer focus has clearly covered the present, the future, and the 'what if' conditions that all businesses must deal with. We feel that our company is very well prepared to handle our complicated risk-related issues because of their support and guidance.

Robert M., Equipment Manufacturing Executive
The company is sincere, honest, always looking out for our best interests. They continually work to understand our business, to develop strategies to mitigate our exposure. That gives us a real competitive advantage.

Shaun M., Food Industry Risk Manager
Santa Maria & Company has helped us solve some tough insurance challenges, but they continue to identify emerging risks, such as cybercrime, and help us protect against them. Their customer service is fantastic.

Jeff B., Medical Industry CFO
This company knows the local insurance market better than the larger brokers ever could. They are true experts who take the time to explain all of our coverage options and help us make the right decisions. It's almost like having an insurance professional on staff.

Matt A., Food Industry Executive
It is a real advantage to work with risk insurance experts that have underwriting experience. Since we have been working with Santa Maria, we've grown a great deal and other companies are always trying to win our business. Santa Maria has the expertise in insurance and high tech industry risks that we need and their personal service is excellent.

Cynthia G., Technology Industry Executive