Loss cost definition

Loss cost means the loss cost per unit of exposure excluding all loss adjustment expenses.[
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Loss cost means the actuarially developed portion of the rate needed to cover future losses and claims. The loss cost does not include: commission expenses, other acquisition expenses, general expenses, taxes, profit, and other contingencies.
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Examples of Loss cost in a sentence

  • In no event shall the Reinsurer be obligated hereunder to indemnify with respect to any Loss, cost or expense under an Insurance Contract for an amount in excess of such Loss, cost or expense.

  • A person or organisation may sue the Company to recover on an agreed settlement or on a final judgment against an Insured obtained after an actual trial in a civil proceeding or arbitration or other alternative dispute resolution proceeding but the Company will not be liable for any damages, Loss, cost or expense not payable under the terms and conditions of this insurance or in excess of the applicable Limits Of Insurance.

  • This insurance does not apply to any damages, Loss, cost or expense arising out of any claim or proceeding made by or on behalf of any governmental authority.

  • Subject as provided in Clause 17.4 (Documents Evidencing Payment or Indemnification), a certificate of the Lender (or the Trustee, as the case may be) setting forth the amount of the Loss, costs, charges and expenses described in Clause 15.1 (Borrower’s Indemnity) and specifying the basis therefor and calculations thereof shall be conclusive evidence of the amount of such Loss, cost, charges and expenses.

  • This insurance does not apply to any damages, Loss, cost or expense incurred by any Insured or others for any loss of use, withdrawal, recall, inspection, repair, replacement, adjustment, removal or disposal of: • Insured’s Product; • any property containing or incorporating Insured’s Product; or • any property on which Insured’s Service is or was performed.

  • This insurance does not apply to any damages, Loss, cost or expense arising out of any Claim or proceeding made by or on behalf of any governmental authority.

  • In no event shall the Reinsurer be obligated hereunder to indemnify with respect to any Loss, cost or expense under a Policy for an amount in excess of such Loss, cost or expense.

  • This insurance does not apply to any Loss, cost or expense incurred by the Insured or others for any: A.

  • If any such error results in cost or Loss to us, you are liable to us for any Loss, cost, liability or expense we may incur.

  • In relation to a person, a claim, action, proceeding, judgment, damage, Loss, cost, expense or liability incurred by or to or made or recovered by or against that person, however arising (including by negligence) and whether present, unascertained, immediate, future or contingent.