Loss Development definition

Loss Development means unpaid losses and loss adjustment expenses of Gateway associated with the Taxi and Truck Program, as finally determined in accordance with SAP consistently applied.

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Loss Development means the adjustment of losses as of some par- ticular date to an ultimate settlement basis based on past maturity patterns.

Loss Development has the meaning set forth in Exhibit A.

Examples of Loss Development in a sentence

• The Company may reinsure its 20% quota share retention in the first two hundred million dollars ($200,000,000) of Adverse Loss Development only with an affiliate within its insurance holding company system, with `affiliate' and `insurance holding company system' having the meanings set forth under Section 5001 of the Delaware Insurance Code.

• Adverse Loss Development is defined as the Company's Ultimate Net Loss that is in excess of the Loss Reserves carried by the Company at the Closing Date.

• The Reinsurer shall pay to the Company an 80% quota share interest of the first two hundred million dollars ($200,000,000) of Adverse Loss Development paid by the Company, with the Reinsurer's maximum liability under this Agreement limited to one hundred and sixty million dollars ($160,000,000).

• By this Agreement and subject to the terms and conditions set forth below, the Reinsurer agrees to indemnify the Company for the Adverse Loss Development that may accrue to the Company under all policies, contracts, and binders of insurance or reinsurance (hereinafter "Policies") issued or renewed by the Company prior to the Closing Date.

• Subject to the Reinsurer's Limit of Liability set forth in Article V hereof, the Reinsurer shall reimburse the Company for the Adverse Loss Development paid by the Company, provided that the Company has paid an amount equal to the Loss Reserves carried by the Company at the Closing Date.

• Losses and Loss Adjustment Expenses plus Loss Development Reserves plus Outstanding Loss Reserves.

• To refund to the Reinsurer any sum in excess of the actual amount required to fund the Reinsurer's share of Adverse Loss Development and other amounts claimed to be due hereunder, if so requested by the Reinsurer.

• Subject to any reasonable non-disclosure conditions required by Buyer's independent actuary, Buyer will provide Seller with data and information reasonably requested by Seller that supports such Loss Development Statement.

• Subject to any reasonable non-disclosure conditions required by Buyer's independent actuary, Buyer will provide Seller with data and information reasonably requested by Seller that supports such Estimated Loss Development Statement.

• If a Loss Development Notice of Disagreement is not timely received by Purchaser, the Loss Development Statement, in the form determined by Purchaser, shall become so final and binding upon the Parties upon the expiration of the Loss Development Review Period).

More Definitions of Loss Development

Loss Development means the adjustment of losses as of some particular date to an ultimate settlement basis based on past maturity patterns;

Loss Development means as recorded in a Subject Loss Development Year, total losses incurred including Incurred But Not Reported reserves (“IBNR”) for accident years 2014 and prior, as determined in accordance with SAP consistently applied.