Direct losses incurred definition

Direct losses incurred means the sum of direct
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Direct losses incurred means direct losses incurred from
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Direct losses incurred means the sum of direct losses paid, plus an estimate of losses to be paid in the future, for all claims arising from the current reporting period and all prior reporting periods, minus the corresponding estimate made at the close of business for the preceding reporting period. The term does not include home office and other overhead costs, advertising costs, commissions and other acquisition costs, taxes, capital costs, administrative costs, utilization review costs, or claims processing costs.
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Examples of Direct losses incurred in a sentence

  • In this subchapter: (1) "Direct losses incurred" means the sum of direct losses paid, plus an estimate of losses to be paid in the future, for all claims arising from the current reporting period and all prior reporting periods, minus the corresponding estimate made at the close of business for the preceding reporting period.


More Definitions of Direct losses incurred

Direct losses incurred means direct losses incurred Erom
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Related to Direct losses incurred

  • Losses incurred as used herein shall mean ceded losses and loss adjustment expense paid as of the effective date of calculation, plus the ceded reserves for losses and loss adjustment expense outstanding as of the same date, all as respects losses occurring during the contract year under consideration, plus the debit or minus the credit from the preceding contract year.

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Indemnified Losses is defined in Section 5.03 of the Servicing Agreement.

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).

  • Purchaser Indemnitees has the meaning set forth in Section 7.02.

  • Purchaser Indemnified Person is defined in Section 5.1 of the Sale Agreement.

  • Seller Losses has the meaning set forth in Section 10.2(a).

  • Seller Indemnitees has the meaning set forth in Section 8.03.

  • Purchaser Indemnified Persons has the meaning specified in Section 11.01(a).

  • Seller Indemnified Persons has the meaning set forth in Section 8.3.

  • Related Indemnified Person of an indemnified person means (a) any controlling person or controlled affiliate of such indemnified person, (b) the respective directors, officers, or employees of such indemnified person or any of its controlling persons or controlled affiliates and (c) the respective agents of such indemnified person or any of its controlling persons or controlled affiliates, in the case of this clause (c), acting at the instructions of such indemnified person, controlling person or such controlled affiliate; provided that each reference to a controlled affiliate or controlling person in this sentence pertains to a controlled affiliate or controlling person involved in the negotiation or syndication of this Agreement and the Term Loans.

  • Indemnifiable Losses means any and all Losses relating to, arising out of or resulting from any Indemnifiable Claim.

  • Indemnified Parties shall have the meaning assigned to such term in Section 7.2.

  • Purchaser Indemnified Parties has the meaning set forth in Section 8.2.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Seller Indemnified Parties has the meaning set forth in Section 8.1.

  • Purchaser Indemnified Party shall have the meaning set forth in Section 9.1(a).

  • Seller Indemnified Party has the meaning set forth in Section 7.2.

  • Company Indemnified Person means (a) any Administrator; (b) any Affiliate of any Administrator; (c) any officers, directors, shareholders, members, partners, employees, representatives or agents of any Administrator; or (d) any officer, employee or agent of the Trust or its Affiliates.

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Buyer Losses shall have the meaning set forth in Section 11.1 hereof;

  • Company Indemnified Persons has the meaning set forth in Section 5(a).

  • Related Indemnitee Group has the meaning specified in Section 4.02(b) of the Participation Agreement.

  • Company Indemnitees shall have the meaning set forth in Section 5.02.

  • Indemnified Amounts The meaning specified in Section 10.1(a).