Loss Adjustment Expenses

Definition

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

Synonyms
adjustment expenses, insurance claim adjustment expenses, 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.