Allocated Loss Expense definition

Allocated Loss Expense shall have the same meaning as ascribed in the Contracts, or, in the absence of any definition in a Contract, shall mean: (a) expenses sustained in connection with adjustment, defense, settlement and litigation of claims and suits, satisfaction of judgments, resistance to or negotiations concerning a loss (which shall include the expenses and the pro rata share of the salaries of the insurer's field employees according to the time occupied in adjusting such loss and the expenses of the insurer's employees while diverted from their normal duties to the service of field adjustment but shall not include any salaries of officers or normal overhead expenses of the insurer); (b) legal expenses and costs incurred in connection with coverage questions regarding specific claims and legal actions, including declaratory judgment actions, connected thereto; (c) all interest on judgments other than prejudgment interest except when included in “Net Loss”; and (d) expenses sustained to obtain recoveries, salvages or other reimbursements, or to secure the reversal or reduction of a verdict or judgment.
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Allocated Loss Expense means expenses allocable to the investigation, defense, resistance to and/or settlement of claims and losses, including litigation expenses, interest on judgments and legal expenses incurred in connection with coverage questions and legal actions, including declaratory judgment actions, connected thereto, but excluding the normal office expenses and salary charges of regular employees or officials of the Company except in the case of claim adjusters or staff attorneys, and then only when the time spent and any expenses of the adjuster or staff attorney is definitely allocable to a specific claim.
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Allocated Loss Expense means costs and expenses incurred by PIC on its Net Retained Line and allocable to a specific claim or loss that are incurred by PIC in the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim, including court costs and costs of supersedeas and appeal bonds expense, including a pro rata share of salaries and expenses of PIC employees and expenses of PIC officers who have been temporarily diverted from their normal and customary duties and assigned to the field adjustment of losses covered by this Contract, interest accrued after award or judgment and pre-judgment interest awarded against the insured, legal expenses and costs incurred by PIC in connection with coverage questions and legal actions connected therewith, and legal costs and expenses associated with Extra-Contractual Obligations and Loss in Excess of Certificate Limits.
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Examples of Allocated Loss Expense in a sentence

  • Allocated Loss Expense shall be in addition to all policy limits for coverages referenced above.

  • Allocated Loss Expense must be in addition to all policy limits for coverages referenced above.

  • Reserves (indemnity expenses, medical expenses, Allocated Loss Expense), Average Weekly Wage (“AWW”).

  • To pay on behalf of the Town out of the bank workers' compensation trust account funded by the Town all "Allocated Loss Expense" which is defined to include all fees of attorneys, witnesses, court reporters, process servers, independent investigators, any court or Workers' Compensation Appeals Board, for depositions, surveillance or the necessary engagement of personnel in the handling of any claim subject to this Agreement.

  • The expense for such investigation or surveillance is understood to be an "Allocated Loss Expense" as otherwise defined in this Agreement.

  • Make available to Administrator funds for the payment of benefits or services to or for occupational injury, disease, illness, death, or vocational rehabilitation and medical treatment of employees of Employer, or their dependents in the event of death, and "Allocated Loss Expense".

  • Penalties/fines may not be charged as an Allocated Loss Expense to the claim file unless specific written authorization is received from the Insurer.

  • Allocated Loss Expense shall be in addition to all policy limits for coverages reference above.

  • Further, “Ultimate Net Loss” is defined as that amount of Losses, Allocated Loss Expense, Extracontractual Obligations and Losses Excess of Policy Limits that the Ceding Company has paid, after deduction of salvage and subrogation.

  • As set forth above, Hartford’s obligation to reinsure Reliance is limited by the definition of “Ultimate Net Loss”: Hartford is only requiredto provide reinsurance for “Losses, Allocated Loss Expense, Extracontractual Obligations, and Losses Excess of Policy Limits that the Ceding Company has paid.” Corona Cert., Ex. Z, p.


More Definitions of Allocated Loss Expense

Allocated Loss Expense means all court costs, fees, and expenses; fees for service of process; fees to attorneys; the cost of employing experts for the purpose of preparing maps, photographs, diagrams, chemical or physical analyses; the cost of copies of all transcripts; the cost of depositions and court reporter or recorded statements; and any similar costs or expenses properly chargeable to the defense of a particular claim.
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Allocated Loss Expense means, all WCAB or court costs, fees and expenses; fees for service of process; fees to attorneys; the cost of services of Undercover operatives and detectives; fees of independent adjusters or attorneys for investigation or adjustment of claims; the cost of employing experts for the purpose of preparing maps, photographs, diagrams, chemical or physical analysis, or giving expert advice or opinions involving chemical or physical questions; the cost of copies of transcripts of testimony at coroner’s inquests or criminal or civil proceedings; the cost of obtaining copies of any public records, medical records, credit bureau reports, index bureau reports, and other like reports; the cost of depositions and court reporter or recorded statements; any costs involving the trustee account or printing of checks; fees and expenses for experts or consultants, and all other medical cost containment services including bill review, utilization review and nurse case management services unless regulatory or reporting requirements define such expenses as loss or indemnity payments; and any similar costs or expenses properly chargeable to the dense of a particular claim or protection of the subrogation rights of City; provided, however, that all of the above services performed by claims technician employees of Consultant shall not be considered Allocated Loss Expenses.
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Allocated Loss Expense shall include but not be limited to attorney’s fees; commercial photographers’ fees; experts’ fees (i.e. engineering, physicians, chemists, etc.); fees for independent medical examinations; witnesses’ travel expense; extraordinary travel expense incurred by “ASC” at the request of “Client”; court reporters’ fees; transcript fees; the cost of obtaining public records; witnesses’ fees; medical cost containment services, such as utilization review, preadmission authorization, hospital xxxx audit, provider xxxx audit, and medical case management; automobile appraisal or property appraisal fees; all outside expense items; and any other similar fee, cost or expense associated with the investigation, negotiation, settlement, or defense of any claim hereunder or as required for the collection of subrogation on behalf of the “Client”.
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Related to Allocated Loss Expense

  • 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 Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Extra Expense means expense or cost incurred (1) to continue the conduct of the Assured’s business,

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Simulated Loss means the excess of the Carrying Value of an oil or gas property over the amount realized from the sale or other disposition of such property.

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.

  • Stipulated Loss Value is the value of each unit of Hardware at various times during the Lease as specified in the applicable Schedule; however, in no event will the Stipulated Loss Value of a Hardware unit exceed its fair market value.

  • Shared-Loss Amount has the meaning provided in Section 2.1(b)(i) of this Commercial Shared-Loss Agreement.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Shared-Loss Quarter has the meaning provided in Section 2.1(a)(i) of this Commercial Shared-Loss Agreement.

  • Applied Loss Amount With respect to any Distribution Date, the amount, if any, by which (x) the aggregate Certificate Principal Amount of the Certificates after giving effect to all Realized Losses incurred with respect to the Mortgage Loans during the related Collection Period and distributions of principal on such Distribution Date, but before giving effect to any application of the Applied Loss Amount with respect to such date, exceeds (y) the Pool Balance for such Distribution Date.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Covered Losses has the meaning set forth in Section 9.2(b).

  • 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:

  • Allocated Amount has the meaning set forth in Section 2.6 hereof.

  • Consolidated Rent Expense means, for any period, the rental expense attributable to leases of real property that is deducted in determining Adjusted Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP. Consolidated Rent Expense shall be determined on a pro forma basis to give effect to any Material Specified Transaction occurring during such period as if such transactions had occurred on the first day of such period.

  • Rental Expense means, with respect to any period, the aggregate amount of rental payments made by the Company and its Subsidiaries (determined on a consolidated basis) for such period with respect to operating leases.

  • Covered Loss or “Covered Losses” means an accidental death, dismemberment, or other Injury covered under the Policy.

  • Allocated Loan Amount means, for an Individual Property, the amount set forth on Schedule II attached hereto.

  • Tax-Related Losses means (i) all federal, state, local and foreign Taxes (including interest and penalties thereon) imposed (or that would be imposed) pursuant to any settlement, Final Determination, judgment or otherwise, (ii) all accounting, legal and other professional fees, and court costs incurred in connection therewith, and (iii) all costs, expenses and damages associated with stockholder litigation or controversies and any amount paid by Parent (or any Parent Affiliate) or SpinCo (or any SpinCo Affiliate) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Tax Authority, in the case of each of clauses (i) through (iii), resulting from the failure of the Internal Distribution, the Contribution or the Distribution to have Tax-Free Status.

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.