Prospective loss cost definition

Prospective loss cost means that portion of a rate
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Prospective loss cost. , as used in this paragraph, means that portion of a rate that does not include provisions for expenses, other than loss adjustment expenses, or profit, and are based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time, and
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Prospective loss cost means that portion of a rate that provides only for losses and loss adjustment expenses and does not include provisions for expenses (other than loss adjustment expenses) or profit, and is based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time.
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Examples of Prospective loss cost in a sentence

  • Hooper (2009) describes an obsolete asset as an asset left with nominal value due to depreciation or wear and tear or redundancy of the asset.


More Definitions of Prospective loss cost

Prospective loss cost means that portion of a rate that does not include provisions
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Prospective loss cost means the expected average loss per unit of exposure.
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Prospective loss cost means that portion of a
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Prospective loss cost means that portion of a rate that does not
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Related to Prospective loss cost

  • Trip Cost means the dollar amount of Trip payments or deposits paid by the Insured prior the Insured’s Trip Departure Date and shown on any required application which is subject to cancellation penalties or restrictions. Trip cost will also include the cost of any subsequent pre-paid payments or deposits paid by the Insured for the same Trip, after application for coverage under this plan provided the Insured amends the Application to add such subsequent payments or deposits and pays any required additional plan cost prior to the Insured’s Departure Date.

  • Estimated Cost , for the purposes of rule 22, means the estimated cost to maintain, repair or replace a major capital item;

  • Economic loss means any economic detriment suffered by a victim as a direct and proximate result of the commission of an offense and includes any loss of income due to lost time at work because of any injury caused to the victim, and any property loss, medical cost, or funeral expense incurred as a result of the commission of the offense. "Economic loss" does not include