Damages through the insured's negligent act and/or omission resulting in bodily injury and/or property damages to a third party; damage to an insured's property; or amount an insurance company has a legal obligation to pay.
The occurrence of the event for which insurance pays.
in property insurance, an unintended, unforeseen reduction in economic value.
A loss arises when the income or proceeds received are less than the expenses or cost. There are detailed rules on how tax relief can be claimed on losses.
The value of property diminished as a result of a peril.
The amount an insurer is required to pay to a claimant.
Any damages to the auto, including equipment, or other insured property. Any measurable dollar cost of damage and/or injury suffered by a person.
In insurance, to be financially harmed. The basis of a claim for indemnity under an insurance policy. The amount for which the insurance company becomes liable on the occurrence of the event insured against.
The value placed on damages caused by someone else's negligence or wrongdoing.
(1) The amount of insurance or benefit for which the insurer becomes liable when the event insured against occurs; (2) the happening of the event insured against.
An occurrence, which is reported to the insurance company and may result in payment to the insured or other claimant.
Medical expense or indemnity covered by the policy as the result of "injury" or "sickness".
an event which gives rise to a claim under a policy
The amount an insurance company pays on a claim.
The amount sought by a policyholder in connection with a claim or the amount paid by an insurance company for a claim. Also means a negative financial result of a business.
In insurance, the term means the amount the insurer is required to pay because of a happening against which it has insured. Also, a happening that causes the company to pay. Also refers to the overall financial result of some operation, as opposed to "profit." The basis for a claim for indemnity or damage under the terms of an insurance policy. Any diminution of quality, quantity or value of property.
The unexpected reduction, decrease or disappearance of economic value.
Any decrease in quantity, quality or value of property, including injury to person. The amount the Insurance Company is required to pay on a claim.
The basis for a claim of damages. A loss may include past and future wages, medical expenses, pain and suffering, loss of companionship, etc.
The basis for a claim under a policy/contract. In health insurance, loss can refer to medical expenses, resulting from illness or injury.
Death or injury that is the basis for a valid claim for repayment under the policy; the amount paid by the insurer.
A claim paid or payable due to an insurance company's contractual obligations to the policyholder.
A claim under a policy. The financial loss caused to the insured by the happening of the event insured against.
The basis for an insurance claim. For example, a loss occurs when a vehicle is damaged in an accident.
(1) In the title industry, damage suffered by a person resulting from defects in or liens upon his title to real estate. (2) Money paid by a title insurance company in settlement of policy claims.
Property damage or bodily injury made to a third party by the insured party, or damage to the insured party's own preperty by the insured party.
The basis of a claim for indemnity under the provisions of an insurance policy. A loss is measured in terms of the reduced value of the property, the amount of medical and other related expenses or the amount of the claim made against an insured.
A reduction in the quantity or value of a property.
1) The amount the insurer is required to pay because of a happening against which it has insured. 2) A happening that causes the company to pay. For example, any reduction in quantity, quality or value of insured property resulting from a covered cause of loss. 3) The overall financial result of some operation, as opposed to "profit." 4) The amount suffered by a person or property, with or without insurance.
A loss is either of three things: The amount sought by a claimant. The amount a property value is reduced to after a perilous situation has occurred. The amount paid out by an agency.
Any measurable dollar amount for property damage or bodily injury.
Generally refers to: the amount of reduction in the value of an insured's property caused by an insured peril, the amount sought through an insured's claim, or the amount paid on behalf of an insured under an insurance contract.
An occurrence leading to a claim under a policy, e.g. a fire. This word is synonymous with the word ‘claim'.
The happening of the event for which insurance pays.
Damage through an insured`s negligent acts and/or omissions resulting in bodily injuru and/or property damage to a third party; damage to an insured`s property; or amount an insurance company has a legal obligation to pay.
negative monetary impact suffered by a mortgagee in the event of default or damages not covered by insurance or accepted by the investor.
The basis for an insurance claim. For example, a loss occurs when the quality or value of an automobile is reduced due to an accident. Insurers also refer to losses as payments made on behalf of the insured.
Value reduction in an insured's property caused by an insured peril. Amount sought in a claim. Amount paid on behalf of an insured under an insurance contract.
An event giving rise to a claim under an insurance.
another term for a claim.
The basis on which an insurance claim is submitted and/or paid. Return to Glossary | Return to
A claim either paid or payable due to the insurer's policy obligations.
physical damage or injury to person or property
A reduction in signal level or strength, usually expressed in dB. Power dissipation serving no useful purpose.
(Dommages or Pertes) In insurance, any reduction in the value of a property occasioned by the peril against which insurance is granted, is the amount of a loss. The phrase, however, is also loosely used in insurance to represent any sum which an insurance company might be expected to pay. Often used instead of "claim".
The dollar amount of an insurance claim or the basis upon which a claim is submitted.
Financial loss resulting from damage to the property that is insured under an insurance policy. next letter
The amount an insurance company pays for damages under the terms of a policy.
A reduction in the quality or value of a property, or a legal liability.
Insurance terminology to mean being robbed, burgled, injured or in a car accident. A loss gives rise to a potential claim.
any diminution of quantity, quality, or value of property. With reference to policies of indemnity, this term means a valid claim for recovery thereunder. In its application to LIABILITY INSURANCE, the term refers to payments made on behalf of the insured.
A word often used in place of the word "claim." It refers to the amount an insurer must pay because one of the possibilities of loss insured against under a policy, has happened.
In insurance industry this term is used for being robbed, burgled, injured or in a car accident. A loss gives rise to a claim.
In insurance the amount the insurer is required to pay because of the insured's loss.
The reduction in the value of an insured's property caused by a covered peril.