Definition and meaning of Covered Loss :

Covered Loss: Illness, injury, death, property loss, legal liability, or any other situation or loss for which an insurance company will pay benefits under a policy when such event occurs.

(Source: InsWeb)

Also see these pages: Covered Loss , Insurance, Insurance Sitemap, Insurance Dictionary - C

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Report :

Loss Report: See Claim Report.

(Source: InsWeb)

Also see these pages: Loss Report , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Report :

Loss Report: See Claim Report.

(Source: InsWeb)

Also see these pages: Loss Report , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Losses Paid :

Losses Paid: A summary of claims paid.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Losses Paid :

Losses Paid: A summary of claims paid.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Net Loss :

Net Loss: The amount of loss sustained by an insurer after giving effect to all applicable reinsurance, salvage, and subrogation recoveries.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Net Loss :

Net Loss: The amount of loss sustained by an insurer after giving effect to all applicable reinsurance, salvage, and subrogation recoveries.

(Source: InsWeb)

Also see these pages: Net Loss , Insurance, Insurance Sitemap, Insurance Dictionary - N

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Partial Loss :

Partial Loss: A loss covered by an insurance policy which does not completely destroy or render worthless the insured property.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Partial Loss :

Partial Loss: A loss covered by an insurance policy which does not completely destroy or render worthless the insured property.

(Source: InsWeb)

Also see these pages: Partial Loss , Insurance, Insurance Sitemap, Insurance Dictionary - P

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Proof of Loss :

Proof of Loss: A formal statement made by a policy owner to an insurer regarding a loss. It is intended to give information to the insurer to enable it to detemine the extent of its liability.

(Source: InsWeb)

Also see these pages: Proof of Loss , Insurance, Insurance Sitemap, Insurance Dictionary - P

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Proof of Loss :

Proof of Loss: A formal statement made by a policy owner to an insurer regarding a loss. It is intended to give information to the insurer to enable it to detemine the extent of its liability.

(Source: InsWeb)

Also see these pages: Proof of Loss , Insurance, Insurance Sitemap, Insurance Dictionary - P

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Development :

Loss Development: The difference between the amount of losses initially estimated by the insurer and the amount reported in an evaluation on a later date.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Losses Incurred :

Losses Incurred: The total losses, whether paid or not, sustained by an insurer during a given period, e.g., 12 months.

(Source: InsWeb)

Also see these pages: Losses Incurred , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Losses Incurred :

Losses Incurred: The total losses, whether paid or not, sustained by an insurer during a given period, e.g., 12 months.

(Source: InsWeb)

Also see these pages: Losses Incurred , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Development :

Loss Development: The difference between the amount of losses initially estimated by the insurer and the amount reported in an evaluation on a later date.

(Source: InsWeb)

Also see these pages: Loss Development , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Payee :

Loss Payee: The party to whom money or insurance proceeds is to be paid in the event of loss, such as the lienholder on an automobile or the mortgagee on real property.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Payee :

Loss Payee: The party to whom money or insurance proceeds is to be paid in the event of loss, such as the lienholder on an automobile or the mortgagee on real property.

(Source: InsWeb)

Also see these pages: Loss Payee , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Shock Loss :

Shock Loss: A catastrophic loss so large that it has a material effect on the underwriting results of a company.

(Source: InsWeb)

Also see these pages: Shock Loss , Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Shock Loss :

Shock Loss: A catastrophic loss so large that it has a material effect on the underwriting results of a company.

(Source: InsWeb)

Also see these pages: Shock Loss , Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Constant :

Loss Constant: A flat amount included in the premium for small Workers Compensation policies, for dwellings in some jurisdictions, and for some prescribed Inland Marine Insurance lines. The purpose of the Loss Constant is to offset the greater-than-average loss experience which most small risks have when compared to all other risks in a given classification.

(Source: InsWeb)

Also see these pages: Loss Constant , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Constant :

Loss Constant: A flat amount included in the premium for small Workers Compensation policies, for dwellings in some jurisdictions, and for some prescribed Inland Marine Insurance lines. The purpose of the Loss Constant is to offset the greater-than-average loss experience which most small risks have when compared to all other risks in a given classification.

(Source: InsWeb)

Also see these pages: Loss Constant , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary

Definition and meaning of LOSS RESERVES :

LOSS RESERVES: The companyÕs best estimate of what it will pay for claims, which is periodically readjusted. They represent a liability on the insurerÕs balance sheet.

(Source: Insurance Information Institute )

Also see these pages: LOSS RESERVES , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Loss Dictionary