Loss Adjustment Expenses

Definition

  • Any expenses accrued while in the process of investigating and settling insurance claims.

Synonyms
adjustment expenses, claim adjustment expenses, insurance claim adjustment expenses

Acronyms
LAE

Related Terms and Acronyms

  • Claims Adjuster Definition,
    • An individual who ascertains the insurer's liability after an insurance claim has been made.
  • Fake Claim Definition,
    • An insurance claim made fraudulently.
  • Insurance Claim Definition,
    • An application for benefits made by an insurance policyholder after an insured event.
  • Insurance Proceeds Definition,
    • The benefits received by an individual after a claim has been verified.
  • Loss Ratio Definition,
    • A method of comparing an insurer's losses to premiums earned in a specific period of time.
  • Loss Reserve Definition,
    • A reserve of money and liquid assets set aside by an insurer for the payment of claims that have been submitted but have yet to be paid out.
  • Losses Incurred Definition,
    • The total net losses of an entity in a year.
  • Unallocated Loss Adjustment Expense (ULAE)Acronym,
    • Underwriting Income Definition,
      • The income earned by an insurer from underwriting in a certain amount of time.
    • Unfair Claims Practice Definition,
      • The act of an insurance company avoiding or reducing valid insurance claims.
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