Definition and meaning of Losses Outstanding :

Losses Outstanding: A summary statement prepared by Property, Life, and Liability insurers showing claims not yet settled.

(Source: InsWeb)

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

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Losses Outstanding :

Losses Outstanding: A summary statement prepared by Property, Life, and Liability insurers showing claims not yet settled.

(Source: InsWeb)

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

For more dictionary entries, see » Loss Dictionary

Definition and meaning of LOSS :

LOSS: A reduction in the quality or value of a property, or a legal liability.

(Source: Insurance Information Institute )

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

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Definition and meaning of Loss :

This term generally refers to some injury, harm, damage or financial deteriment that a person sustains. Losses may be insured or uninsured. Whether a loss is covered by a policy or certificate of insurance depends on the terms of that document and local law.

(Source Lloyd's )

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

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Definition and meaning of Underwriting Profit, Loss :

Underwriting Profit (or Loss): (1) The profit or loss realized from insurance operations, as contrasted with that realized from investments. (2) The excess of premiums over losses and expenses (profit) or the excesses of losses over premiums (loss).

(Source: InsWeb)

Also see these pages: Underwriting Profit, Loss , Insurance, Insurance Sitemap, Insurance Dictionary - U

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Definition and meaning of Underwriting Profit, Loss :

Underwriting Profit (or Loss): (1) The profit or loss realized from insurance operations, as contrasted with that realized from investments. (2) The excess of premiums over losses and expenses (profit) or the excesses of losses over premiums (loss).

(Source: InsWeb)

Also see these pages: Underwriting Profit, Loss , Insurance, Insurance Sitemap, Insurance Dictionary - U

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Actual Total Loss :

Actual Total Loss: See Total Loss. 

(Source: InsWeb)

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Definition and meaning of Loss Adjustment Expense :

Loss Adjustment Expense: The cost of adjusting losses, excluding the amount of the loss itself.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss Adjustment Expense :

Loss Adjustment Expense: The cost of adjusting losses, excluding the amount of the loss itself.

(Source: InsWeb)

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

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Definition and meaning of Statutory Earnings, Losses :

Statutory Earnings (or Losses): Earnings or losses shown on the NAIC convention blank, in contrast to earnings or losses that would be shown if generally accepted accounting procedure statements were used.

(Source: InsWeb)

Also see these pages: Statutory Earnings, Losses , Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Statutory Earnings, Losses :

Statutory Earnings (or Losses): Earnings or losses shown on the NAIC convention blank, in contrast to earnings or losses that would be shown if generally accepted accounting procedure statements were used.

(Source: InsWeb)

Also see these pages: Statutory Earnings, Losses , Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Loss Dictionary

Definition and meaning of loss ratio :

loss ratio: The ratio of losses incurred and loss expenses incurred to net premiums earned

(Source: Bank of America )

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Definition and meaning of Loss Prevention Service :

Loss Prevention Service: Engineering and inspection work done by an insurance company or independent organization with the aim of removing or reducing dangerous conditions in order to prevent losses.

(Source: InsWeb)

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Definition and meaning of Loss Prevention Service :

Loss Prevention Service: Engineering and inspection work done by an insurance company or independent organization with the aim of removing or reducing dangerous conditions in order to prevent losses.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Gain and Loss Exhibit :

Gain and Loss Exhibit: The portion of the convention blank which represents an analysis of gains, losses, and surplus during an accounting period.

(Source: InsWeb)

Also see these pages: Gain and Loss Exhibit , Insurance, Insurance Sitemap, Insurance Dictionary - G

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Gain and Loss Exhibit :

Gain and Loss Exhibit: The portion of the convention blank which represents an analysis of gains, losses, and surplus during an accounting period.

(Source: InsWeb)

Also see these pages: Gain and Loss Exhibit , Insurance, Insurance Sitemap, Insurance Dictionary - G

For more dictionary entries, see » Loss Dictionary

Definition and meaning of First Loss Insurance :

First Loss Insurance: (1) Popularly used, an insurance policy which is called upon to pay a loss before others covering the same risk. (2) A contract written in such an amount as to cover only an insured's expected loss during the policy period with no other insurance in existence.

(Source: InsWeb)

Also see these pages: First Loss Insurance , Insurance, Insurance Sitemap, Insurance Dictionary - F

For more dictionary entries, see » Loss Dictionary

Definition and meaning of First Loss Insurance :

First Loss Insurance: (1) Popularly used, an insurance policy which is called upon to pay a loss before others covering the same risk. (2) A contract written in such an amount as to cover only an insured's expected loss during the policy period with no other insurance in existence.

(Source: InsWeb)

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For more dictionary entries, see » Loss Dictionary

Definition and meaning of Loss :

Loss: The happening of the event for which insurance pays.

(Source: The Haskayne School of Business at the University of Calgary )

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

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Definition and meaning of PROOF OF LOSS :

PROOF OF LOSS: Documents showing the insurance company that a loss occurred.

(Source: Insurance Information Institute )

Also see these pages: PROOF OF LOSS , Insurance, Insurance Sitemap, Insurance Dictionary - P

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Ultimate Net Loss :

Ultimate Net Loss: The total sum that the insured or any company as its insurer, or both, become legally obligated to pay either through adjudication or compromise, including among others, legal, medical, and investigative costs.

(Source: InsWeb)

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

For more dictionary entries, see » Loss Dictionary

Definition and meaning of Ultimate Net Loss :

Ultimate Net Loss: The total sum that the insured or any company as its insurer, or both, become legally obligated to pay either through adjudication or compromise, including among others, legal, medical, and investigative costs.

(Source: InsWeb)

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

For more dictionary entries, see » Loss Dictionary