Loan payments a consumer cannot make and no longer recoverable are a loss amount. T

Below-cost sale as advertised of goods or services. Intended to increase retail store customer visits. Assumption is visits will also increase full-priced item purchases. Also refer to price leader .

Retrospective rating formulas component. Calculating the final premium with a designed catastrophic losses limit versus full hit reporting.

produce a reinsurance rate as a factor of pure loss costs.

Identifying and preventing events causing potential value losses to revenue, assets, or services as a company’s active business practice . To limit the chances of loss, the company’s operating policies […]

Lawful damages payout is required that financially positions the offended party of a breached contract to where the offended party would have been financially if there had been no breach. […]

the term used when a person is deprived of his citizenship due to giving false information when applying.

Disability benefits for disabled workers incapable of work. Covers current or future income loss.

Lost chance to sell a potential buyer a specific item. Excluding it as a standard business peril in this circumstance from certain contracts is typically done.

the term used when a person who has committed a major criminal act and is not allowed to vote.

Severe damage making an insured item a total loss because the item is no longer what it was when undamaged. Water soaked cement is an example.

Lost capacity of one’s body part or entity’s property due to another party’s negligence or wrongdoing causing the lost capacity. Compensation throughout the lost-capacity duration is typical. This is a […]

When a company liquidates assets, it must record income decrease on the balance sheet .

Payment authorization clause. Covers insured payout to insured entities who are not the insured. Protects a mortgage lender , as an example.

Entity receiving loss payout benefits, such as a mortgage borrower

When control is gained by buying the majority of stocks in a failing company.

Future claims reduction as a loss prevention method by the insurer’s staff person authorized to do this.

Lessening damage payout by hazard elimination or reduction. Insurer or outside organization inspect and engineer improvements .

The ability an insurance company has to cover its loss with premiums.

When insurance premuim goes up according to loss ratios.

Insurer’s estimated time-bound total unpaid claim liability as held money. Includes unreported claim events, committed unpaid rulings, and payouts committed yet not due.

Absentee hours tallied divided by Normal hours constant, typically 35 hours, times 100. Expressed as a percentage. Illness, injury, any medical problem, child care and other family and personal obligations, […]

The amount a bank can lose if an account goes into default.

An insurance policy whose premuims depend on the loss experienced.

1. In Insurance this is the total of money lost. It is by policy payout, often stated by period. 2. In General business, this occurs whenever overhead expenses exceeds income.