Allocated Loss Adjustment Expense as used herein shall mean any and all expenses paid or due and payable by the Company or a Legal Entity in the investigation, appraisal, adjustment, settlement, litigation, defense or appeal, or payment of claims or judgments arising from each and every loss or loss occurrence for which the Company or a Legal Entity is or may be found liable under the Policies, including but not limited to Claim-Specific Declaratory Judgment Expenses, Attorneys’ Fees and Expenses, Field Employee Salaries and Expenses, defense costs, court costs, supersedeas and appeal bond costs, Post or Prejudgment Interest or Delayed Damages, and expenses of outside adjusters or other third party administrators.
Allocated Loss Adjustment Expense means claim adjustment expense directly allocated by us to a particular claim. Such expense shall include:
Allocated Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:
1. court costs;
2. costs of supersedeas and appeal bonds;
3. monitoring counsel expenses;
4. legal expenses and costs incurred in connection with coverage questions and legal actions connected thereto, including but not limited to declaratory judgment actions;
5. post-judgment interest;
6. pre-judgment interest, unless included as part of an award or judgment; and
7. subrogation, salvage and recovery expenses “Allocated Loss Adjustment Expense” does not include salaries and expenses of the Company’s employees and office and other overhead expenses.
Examples of Allocated Loss Adjustment Expense in a sentence
This will be called the Allocated Loss Adjustment Expense Option (ALAE Option).
Operational expenditures include personal services, operating expenses, equipment and intangible assets, and Allocated Loss Adjustment Expense (ALAE).
This offset right shall apply regardless of whether the balances arose on account of Premiums, commission, claims, losses, Allocated Loss Adjustment Expense, salvage or any other amount(s) due from one Party to the other.
Allocated Loss Adjustment Expense Definition Effective January 1, 1998 the NAIC developed a new definition for Allocated Loss Adjustment Expense.
FOR PENNSYLVANIA CARRIERS ONLY, the reporting of Allocated Loss Adjustment Expense in this call is not required.
More Definitions of Allocated Loss Adjustment Expense
Allocated Loss Adjustment Expense means that expense which can be allocated to the individual claims. For the purposes of this endorsement, it is defined as legal expenses, excluding the cost of investigation and adjustment of claims by salaried employees and fee adjusters, but including attorney's fees, court costs, expense for expert testimony, examinations, x-rays, autopsy or medical expenses of any kind not incurred for the benefit of the claimants or any other expenses incurred under the policies listed in Table I other than payment of indemnity or medical treatment, provided that only those items of expense which can be directly allocated to a specific claim involving litigation or possible litigation when necessary to determine the company's liability shall be included.
Allocated Loss Adjustment Expense or “ALAE” means the cost of adjusting workers’ compensation insurance claims that can be assigned specifically to an individual claim.
Allocated Loss Adjustment Expense. , as used in this Agreement, shall mean all expenditures by the Company made in connection with the disposition of a claim, loss or legal proceeding including but not limited to expenses of salvage and subrogation and legal expenses of litigation, investigation, negotiation, cost of bonds, court costs, Statutory Penalties, Prejudgment Interest or Delayed Damages and post-judgment interest. Allocated Loss Adjustment Expenses shall also include the Company's defense costs and legal expenses incurred in direct connection with legal actions, including but not limited to declaratory judgment actions, brought by any party to determine the Company's defense and/or indemnification obligations that are allocable only to policies and claims subject to this Agreement. Any declaratory judgment action expenses shall be deemed to have been fully incurred on the same date as the original claim (if any) giving rise to the action. Allocated Loss Adjustment Expense(s) shall also include legal expenses, including such expenses related to declaratory judgment actions, incurred in connection with Extra Contractual Obligations and Loss In Excess Of Original Policy Limits.
Allocated Loss Adjustment Expense as used herein shall mean any and all expenses paid or due and payable by the Company or a Legal Entity in the investigation, appraisal, adjustment, settlement, litigation, defense or appeal, or payment of claims or judgments arising from each and every loss or loss occurrence for which the Company or a Legal Entity is or may be found liable under the Policies, including but not limited to Claim- Specific Declaratory Judgment Expenses, Attorneys’ Fees and Expenses, Field Employee Salaries and Expenses, defense costs, court costs, supersedeas and appeal bond costs, Post or Prejudgment Interest or Delayed Damages, and expenses of outside adjusters or other third party administrators.
Allocated Loss Adjustment Expense means all claim expenses that we directly allocate to a particular claim, proceeding or suit. Such expenses can include, but are not limited to, medical cost containment fees, legal bill review fees, fees for nurse case managers, surveillance, attorneys, and expert witnesses, as well as court costs or arbitration costs.
Allocated Loss Adjustment Expense means the Ceding Company's share of costs and expenses allocable to specific claims which are incurred by the Ceding Company in the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of specific claims, including court costs and costs of supersedeas and appeal bonds, and including:
Allocated Loss Adjustment Expense or "ALAE" means defense and cost containment expenses paid or incurred for defense, litigation and medical cost containment expenses and services. Either internal staff, such as in-house counsel or professional medical staff, or external staff, such as defense counsel or expert witnesses, may provide defense and cost containment services.