Valuation Of Loss
Method of setting a dollar value on loss suffered by an insured. In some cases, a loss is straightforward, such as the cost of gallbladder surgery. But with burglary of a home or a traffic accident that damages a car, the amount of loss is open to interpretation. In many cases, the insured needs receipts, appraisal documents, or other evidence of value. In other cases, a claim adjuster values the loss and determines how much the insurer will pay.
Popular Insurance Terms
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Cost of doing business, not including pure expectation of loss. ...
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Synopsis of the key financial figures concerning the pension plan that is contained in the form 5500 that must be filed annually with the Internal Revenue Service. This report must be given ...
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