What is the Definition of Loss Adjustment Expenses?
What is the Definition of Loss Adjustment Expenses?
The sum insurers pay for investigating and settling insurance claims, including the cost of defending a lawsuit in court.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Loss Adjustment Expenses?
You can find random definition and meaning of insurance terms below:
Meaning of Contestable Period in Insurance Terms
The time during which an insurer has the right to cancel or rescind an insurance policy if the application contained a material misrepresentation. (See Incontestability provision)
Meaning of Contingent Beneficiary in Insurance Terms
The party designated to receive the proceeds of a life insurance policy following the insured’s death if the primary beneficiary predeceased the insured. Also known as secondary beneficiary and successor beneficiary. (See Primary beneficiary)
Meaning of Contingent Liability in Insurance Terms
Liability of individuals, corporations, or partnerships for accidents caused by people other than employees for whose acts or omissions the corporations or partnerships are responsible.
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