Loss assessment definition

Loss assessment means an assessment charged by an association of owners against all property owners in a common interest development that is properly and legally made as a result of a loss to structures or other real property contained within that common interest development, and those structures or other real property are owned by one or any combination of the following three categories: (i) all members of the association of owners collectively, (ii) the association of owners, or (iii) you.
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Loss assessment means your share of the amount of money charged by the property owners association or similar body to all its members for earthquake loss for which there is no other insurance. Coverage is limited to property at the location shown on the Declarations Page of the policy to which this endorsement has been attached. Coverage does not apply to assessment made against the property owners association by any governmental body.
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Examples of Loss assessment in a sentence

  • EL-rating - (EL - Expected Loss) assessment of the probability of a loss, taking into account the client's risk of default, structure and nature of credit products, and type and size of accepted collateral.

  • The cars are mainly carried by road, but the Hietanen Car Terminal also now has a ramp for loading cars into car transporter wagons, enabling rail carriage of cars to the destination.

  • Loss assessment and loss write-down is carried out quarterly on individual loans where there is objective evidence of impairment.

  • Loss assessment report at the affected insurance unit level has to be completed by the joint committee within 15 days from occurrence of the adverse seasonal event.

  • Where the Expected Credit Loss assessment is not favourable, a voluntary revenue provision will be made, which could be reversed at a later date should the situation improve.

  • In the event of loss 2.1 Loss assessment If there is reason to demand assessment under the insurance terms and conditions, the following provisions on the procedure shall apply: An assessment is made by experts and impartial persons.

  • Loss assessment is carried out in accordance with the actual renovation work estimate, costs and prices no later than 6 (six) months after the occurrence of the insurable event.

  • Loss assessment coverage does not in- crease the Coverage A Limit of Liability.

  • Where security is in place against the loan, an Expected Credit Loss assessment will be performed periodically, at least at each Balance Sheet date, under IFRS9.

  • One might well argue that the disproportionate response to the Tsunami was one of the factors that drove donor support for the establishment of the reformed CERF.Other echoes from the tsunami could be seen in the floods response, including the government requesting the World Bank to assist with the Damage and Loss assessment, and requests to the UN to coordinate donor assistance (Barron et al., 2007, p.

Related to Loss assessment

  • Needs assessment In this section, LEAs are asked to describe the impact of the pandemic on their students, examine disproportionate impacts on specific student groups, and highlight the LEA’s promising practices in supporting students’ needs since March 2020.

  • Risk assessment means a programme to determine any risk associated with any hazard at a construction site , in order to identify the steps needed to be taken to remove, reduce or control such hazard;

  • Environmental Impact Assessment means a systematic examination conducted to determine whether or not a programme, activity or project will have any adverse impacts on the environment;

  • Environmental and Social Impact Assessment or “ESIA” means a site-specific report, to be prepared in accordance with the parameters laid down in the ESMF (as hereinafter defined) and acceptable to the Association, identifying and assessing the potential environmental and social impacts of the activities to be undertaken for the Project, evaluating alternatives, and designing appropriate mitigation, management, and monitoring measures.

  • Comprehensive assessment means the gathering of relevant social, psychological, medical and level of care information by the case manager and is used as a basis for the development of the consumer service plan.

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

  • Impact Assessment has the meaning given to it in Clause 22.1.3 (Variation Procedure);

  • Acoustic Assessment Report means the report, prepared in accordance with Publication NPC-233 and Appendix A of the Basic Comprehensive User Guide,by HGC Engineering and dated August 22, 2008 submitted in support of the application, that documents all sources of noise emissions and Noise Control Measures present at the Facility and includes all up-dated Acoustic Assessment Reports as required by the Documentation Requirements conditions of this Certificate to demonstrate continued compliance with the Performance Limits following the implementation of any Modification.

  • Data Protection Impact Assessment means an assessment by the Controller of the impact of the envisaged processing on the protection of Personal Data.

  • Environmental Assessment Act means the Environmental Assessment Act, R.S.O. 1990, c.E.18.

  • self-assessment means an assessment made by a taxpayer or his representative under section 28;

  • Assessment Report : means the assessment report referred to in Articles 32(2) and 33(3) of Regulation (EC) No 834/2007 drawn up by an independent third party fulfilling the requirements of ISO Standard 17011 or by a relevant competent authority, which includes information on document reviews, including the descriptions referred to in Articles 4(3)(b) and 11(3)(b) of this Regulation, on office audits, including critical locations and on risk-oriented witness audits conducted in representative third countries.

  • Site Assessment means an environmental assessment report for the Mortgaged Property prepared at Borrower’s expense by a qualified environmental consultant engaged by Borrower, or by Lender on behalf of Borrower, and approved by Lender, and in a manner reasonably satisfactory to Lender, based upon an investigation relating to and making appropriate inquiries to evaluate the risks associated with Mold and any existence of Hazardous Materials on or about the Mortgaged Property, and the past or present discharge, disposal, release or escape of any such substances, all consistent with the most current version of the ASTM 1527 standard (or any successor standard published by ASTM) and good customary and commercial practice.

  • Phase I Environmental Site Assessment means an environmental site assessment performed pursuant to the American Society for Testing and Materials E1527 - 05, or any similar environmental assessment.

  • conformity assessment means the process demonstrating whether the requirements of this Regulation relating to a device have been fulfilled;

  • conformity assessment body means a body that performs conformity assessment activities including calibration, testing, certification and inspection;

  • Environmental Report The environmental audit report or reports with respect to each Mortgaged Property delivered to the related Mortgage Loan Seller in connection with the origination or acquisition of the related Mortgage Loan.