Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.
Allocated Loss Adjustment Expenses means all expenses incurred by the Company in connection with the investigation, settlement, defense or mitigation of any claim or loss under the Reinsured Contracts, but shall exclude the salaries of the Company’s employees, office expenses and any other overhead expenses.
Allocated Loss Adjustment Expenses means expenses paid by the Retrocedent on or after the Effective Date in connection with (i) the adjustment of claims under the Reinsurance Agreements, including, without limitation, court costs, interest upon judgments as it accrues, and allocated investigation, adjustment, and legal expenses chargeable to the investigation, negotiation, settlement or defense of a claim or (ii) the protection, perfection or exercise of any subrogation, salvage or recoupment rights under a Reinsurance Agreement. For the avoidance of doubt, “Allocated Loss Adjustment Expenses” does not include salaries paid to employees of the Retrocedent or other overhead expenses.
Examples of Allocated Loss Adjustment Expenses in a sentence
The Company shall promptly notify the Reinsurer of each claim that may involve any third- party reinsurance that inures to the benefit of this Agreement and of all subsequent developments relating thereto, stating the amount claimed, an estimate of the Company’s Net Liability including Allocated Loss Adjustment Expenses, and shall notify the Reinsurer upon settlement of such claims.
In determining the amount of salvage or subrogation, there shall not be deducted from any amount recovered the out-of-pocket expenses incurred by AXIS in effecting the recovery (the Reinsurer’s Share of which the Parties acknowledge shall be included in Allocated Loss Adjustment Expenses).
More Definitions of Allocated Loss Adjustment Expenses
Allocated Loss Adjustment Expenses means all costs and expenses PERMA and NEAMI incur that are attributed to the processing of Tail Claims, including, but not limited to, fees, costs, assessments and other charges imposed by the Workers’ Compensation Board, medical cost containment and management services, in the amounts set forth in Schedule B, attorneys’ fees and disbursements, court reporter services and transcripts, deposition charges and transcripts, fees for the service of process, court costs, courier/express mail, appeal bonds, printing costs related to trials and appeals, witness and expert fees, medical examinations and review, laboratory costs, engineering fees, independent adjustor fees, surveillance, photography and similar costs and expenses reasonably incurred and related to the investigation and defense of claims or the protection and collection of subrogation rights of the Member.
Allocated Loss Adjustment Expenses means all reasonable costs and expenses incurred by or on behalf of Aspen paid or payable on or after the Effective Date in connection with any investigation, appraisal, adjustment, audit, negotiation, settlement, litigation, defense or appeal that is allocable to an occurrence or claim made under or in connection with a Reinsured Policy, which shall include (a) outside retained adjusters’ fees, (b) attorneys’, experts’ and consultants’ fees in connection with coverage investigation or analysis and/or actual, anticipated or threatened actions, suits or proceedings, whether declaratory, coercive or otherwise, (c) costs levied in any claim, suit or proceeding (including court costs), (d) costs of supersedeas and appeal bonds, (e) subrogation, salvage and recovery expenses (incurred with respect to Recoverables), (f) to the extent incurred consistent with Aspen’s customary past practice prior to the Effective Date, interinsurer expense-related obligations arising from equitable contribution or similar claims, (g) to the extent incurred consistent with Aspen’s customary past practice prior to the Effective Date, fees (at cost) of staff counsel expressly charged with performing functions generally performed by outside counsel, (h) pre-judgment interest and (i) interest accruing after entry of judgment. Except as otherwise provided in this definition, Allocated Loss Adjustment Expenses shall not include salaries, benefits and expenses of Aspen’s (or any of its Affiliates’) employees and other overhead and office expenses of Aspen (or any of its Affiliates), and, for the avoidance of doubt, such costs shall be included in the definition of “ULAE.”
Allocated Loss Adjustment Expenses means all costs, fees and expenses incurred by the Company or its Affiliates in the investigation, adjustment, settlement or defense of all claims or the monitoring, preservation or enforcement of rights, interests or benefits arising out of or relating to the Reinsured Policies (excluding office expenses and salaries of officials of the Company or its Affiliates or any other administrative or overhead expenses of the Company or of its Affiliates), and court costs, and interest on any judgment or award. Allocated Loss Adjustment Expenses shall also include expenses associated with an action by any entity for declaratory judgment filed in connection with the Reinsured Policies.
Allocated Loss Adjustment Expenses means those expenses relating to the adjustment of Losses, including court costs, interest upon judgments as it accrues, and allocated investigation, adjustment, and legal expenses chargeable to the investigation, negotiation, settlement or defense of a claim or Loss or the protection and perfection of any subrogation or salvage rights under any Policy.
Allocated Loss Adjustment Expenses means all expenses including court costs, attorneys’ fees, expenses, and interest accrued prior to judgment where such interest is not added to the judgment, and interest accrued after judgment, which are actually paid by the Reinsured (excluding salaries of officers and permanent employees of the Reinsured) in connection with any investigation, adjustment, defense, resistance to, compromise, settlement, or negotiations that are allocated to a specific loss occurrence with respect to a policy of the Subject Business for which reimbursement is due the Reinsured under this Agreement. Allocated Loss Adjustment Expenses shall be apportioned in proportion to the respective Parties’ quota share participation under this Agreement, as finally determined by the Parties. All costs and expenses that are not Allocated Loss Adjustment Expenses shall be Unallocated Loss Adjustment Expenses. The Allocated Loss Adjustment Expenses shall be a part of, and included in, the Ultimate Net Loss.
Allocated Loss Adjustment Expenses means with respect to each Bond those costs and expenses with respect to (a) a claim under such Bond or (b) actions taken to postpone, mitigate, defend or avoid a claim under a Bond, which are incurred by the Company in respect of such claim or action, including but not limited to court costs, interest upon judgments, costs to finance claims, receivables purchases or other payments made prior to recovery, and investigation, adjustment, asset servicing, and legal expenses chargeable to the investigation, negotiation, settlement or defense of a claim or loss or the protection and perfection of any subrogation or salvage rights under such Bond; the term shall not include Unallocated Loss Adjustment Expenses.
Allocated Loss Adjustment Expenses. Allocated Loss Adjustment Expenses as used herein shall mean all allocated expenses incurred by the Company on or after the Effective Date in connection with the investigation, settlement, defense or mitigation of any claim or loss which is the subject matter of the Part A Business Covered, and shall exclude salaries and fees of adjusters, attorneys or other persons who are employees of the Company, or its designated claims adjusters, attorneys on permanent retainer, office expenses, overhead or other unallocated expenses.