Loss Adjustment Expenses
- Any expenses accrued while in the process of investigating and settling insurance claims.
adjustment expenses, claim adjustment expenses, insurance claim adjustment expenses
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.