Insurance Glossary

1) Seepage & Pollution 2) Standard & Poor's

Sabotage & Terrorism

A bulky name to say that you need valid health & repatriation insurance underwritten for at least the legally defined limit by an insurer with a presence in Europe when you apply for a Schengen visa.
The Schengen Area is a group of twenty-five European countries which have abolished all border controls between each other.

Acts like a deductible but is usually a much larger amount than a typical deductible. Essentially, this is the part of a loss financed by the insured.

Sum Insured

Strike, Riot and Civil Commotion

Also known as interdependency. Provides coverage in the event that a major supplier suffers a loss and is not able to provide the insured with goods needed for the insureds’ production.