Loss reimbursement definition

Loss reimbursement means any payment made by the insured to or on behalf of the insurer for loss or loss adjustment expense pursuant to the terms of a loss reimbursement policy, to the extent that the insurer is responsible for payment regardless of whether the insured has met its obligations. Loss reimbursement includes any voluntary or involuntary application of loss reimbursement collateral to the loss reimbursement obligations of the insured. Loss reimbursement does not include:
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Loss reimbursement means a provision in a workers' compensation policy
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Examples of Loss reimbursement in a sentence

  • The Reinsured shall recover for the retention from recoveries, salvages or reimbursements only after the Reinsurer has been reimbursed in full for its Ultimate Net Loss reimbursement payment.

  • All ceded Premiums and Ultimate Net Loss reimbursement settlements shall be made directly between the Reinsurer and the Reinsured; provided that the Reinsured may appoint as Reinsured’s agent for the payment of ceded Premiums and acceptance of Ultimate Net Loss settlements any one Oscar Reinsured it so chooses, from time to time, by providing written notice thereof to the Reinsurer.

  • Aetna has the right to deduct any due but unpaid premium that would otherwise be payable by you from any Stop Loss reimbursement.

  • A Claim Form being filed for an Out-of-Pocket Expense and Loss reimbursement must be verified by the Settlement Class Member with a statement that his or her claim is true and correct, to the best of his or her knowledge and belief, and is being made under penalty of perjury.

  • We may offset any amount owed to Us against any pending or future Loss reimbursement payments.

  • All ceded Premiums and Ultimate Net Loss reimbursement settlements shall be made directly between the Reinsurer and the Reinsured.

  • Loss reimbursement at any calendar quarter for each Coverage Year shall be equal to the amount of such cumulative Ultimate Net Losses Paid at each date in excess of the Retention less net loss reimbursements previously made by the Reinsurers, subject to the Aggregate Limits in accordance with ARTICLE 5: COVERAGES AND AGGREGATE LIMITS.

  • Loss reimbursement at any calendar quarter shall be equal to the amount of such cumulative Ultimate Net Losses Paid at each date in excess of the Retention less net loss reimbursements previously made by the Reinsurers, subject to the Aggregate Limits in accordance with the COVERAGES AND AGGREGATE LIMITS Article.

  • Loss reimbursement at any calendar quarter for each Coverage Year shall be equal to the amount of such cumulative Ultimate Net Losses Paid at each date in excess of the Retention less net loss reimbursements previously made by the Reinsurers, subject to the Aggregate Limits in accordance with the COVERAGES AND AGGREGATE LIMITS Article.

  • Loss reimbursement, the Subscriber must authorize the financial institution to provide certified documentation directly to us, signed by an authorized financial institution representative.

Related to Loss reimbursement

  • Cost Reimbursement means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.

  • Expense Reimbursement has the meaning set forth in Section 8.2(c).

  • Special Reimbursement Date means, the special payment date established in connection with a Reimbursement under Special Circumstances as described hereunder “Extraordinary Events and Special Circumstances – Reimbursement Under Special Circumstances and Payment”.

  • Workout-Delayed Reimbursement Amounts With respect to any Mortgage Loan or Serviced Loan Combination, the amount of any Advance made with respect to such Mortgage Loan or Serviced Loan Combination on or before the date such Mortgage Loan or Serviced Loan Combination becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such Advance is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan or Serviced Loan Combination becomes a Corrected Loan and (ii) the amount of such Advance becomes a future obligation of the Mortgagor to pay under the terms of modified Loan Documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable Advance.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.