Lat. A colloquy; talk. In old English law , this term denoted the oral altercations of the parties to a suit, which led to the issue, now called the “pleadings.” […]

who wrote or kept books of accounts. Dig. 50, 4, 18, 10; Cod. 10, 69.

whole peerage, as In the expression “the house of lords.” 1 Bl. Comm. 396-iOO. A title of office, as lord mayor, lord commissioner , etc. In feudal law. A feudal […]

A decrease on the profit return results in this condition as the current value of the investment is less that the bid.

In insnrance. The injury or damage sustained by the insured in consequence of the happening of one or more of the accidents or misfortunes against which the insurer, in consideration […]

Claim adjustment’s total cost over and above the actual claim payout, which is excluded.

The insurer / insurance company hires one for an insured’s insurance claim investigation and settlement an insured. This person is typically and independent entity. Also refer to loss assessor .

Property damage payout due to a homeowners association or property owners group as the insured’s portion of the total amount owed due. This charge-type coverage is offered by certain homeowners […]

The insurer / insurance company hires one for an insured’s insurance claim investigation and settlement an insured. This person is typically and independent entity. Also refer to loss adjustor .

Current year ‘s net loss offsets previous year’s taxable income as an accounting adjustment, giving a tax refund as already paid. US tax law allowance. Also refer to loss carryforward […]

Current year ‘s net loss offsets subsequent years’ taxable income as an accounting adjustment. Even a partial loss carryback of up to 20 years under the US tax laws is […]

Compared to other risks in the same classification , this amount intends to offset greater-than-average losses most smaller risks have.

Damages resulting from a pending lawsuit are an example of a potential liability that is probable and reasonably estimable forced to use this provision.

To reduce the frequency or severity of losses, human, engineering , and risk management practices are employed as a multi-disciplinary approach.

In accordance with the terms and conditions of the rental agreement, safe driving of a rental car relieves the customer of damages arising from loss of the car or any […]

Later-date amount reporting compared to the insured’s original estimated loss value.

Claims reported late give the insurer extra money due to this factor introduced to permit development of losses and reimbursement.

IRS rule: corporation cannot file one tax return covering the corporation that includes subsidiaries owned by a third party . This prevents corporate use of losses incurred by the other […]

When new equity is issued after a trigger event. It is a contingency measure.

Maximum loss estimate most likely due as an exposure. the insured takes special attention to loss prevention measures.

Risk management techniques used to prevent loss and increase profit.

In a particular time frame, loss reoccurrence tally.

The number of losses over a period of time.

Income loss on a company’s financial statement accounting for labor strike’s financial impact .

Income loss on a company’s financial statement accounting for litigation proceedings ‘ financial impact .