Unallocated Loss Adjustment Expense definition

Unallocated Loss Adjustment Expense as used herein shall mean any and all expenses paid or due and payable by the Company or a Legal Entity in the investigation, appraisal, adjustment, settlement, litigation, defense or appeal, or payment of claims or judgments arising from each and every loss or loss occurrence for which the Company or a Legal Entity is or may be found liable under the Policies that do not constitute Allocated Loss Adjustment Expense.

Unallocated Loss Adjustment Expense or "ULAE" means costs that cannot be associated with specific claims but are related to the claims adjustment process, such as administrative and internal expenses related to settlement of claims at the termination of the program.

Unallocated Loss Adjustment Expense or "ULAE" means costs that cannot be associated with specific claims but are related to the

Examples of Unallocated Loss Adjustment Expense in a sentence

• Ceded Cumulative Ultimate Net Loss paid by the Company, separating Allocated Loss Adjustment Expense and Unallocated Loss Adjustment Expense.

• Ceded Ultimate Net Loss outstanding including incurred but not reported amounts, separating Allocated Loss Adjustment Expense and Unallocated Loss Adjustment Expense.

• Ceded Ultimate Net Loss paid by the Company during the quarter, separating Allocated Loss Adjustment Expense and Unallocated Loss Adjustment Expense.

• In addition to the actuarial methodology used above, PLF cost estimates to defend and settle claims in the future include factors for Unallocated Loss Adjustment Expense (ULAE), Extended Reporting Coverage (ERC), and suspense files.

• The Reinsurer shall maintain the required reserves as to the Reinsurer's portion of unearned premium, if any, claims, losses, and Allocated and Unallocated Loss Adjustment Expense.

More Definitions of Unallocated Loss Adjustment Expense

Unallocated Loss Adjustment Expense as used herein shall mean any and all expenses paid or due and payable by the Company or a Legal Entity in the investigation, appraisal, Effective: January 1, 2008 2008 Property Catastrophe Excess of Loss Contract — $800m x $50m adjustment, settlement, litigation, defense or appeal, payment or subrogation of claims or judgments arising from each and every loss or loss occurrence for which the Company or a Legal Entity is or may be found liable under the Policies that do not constitute Allocated Loss Adjustment Expense.

Unallocated Loss Adjustment Expense as used in this Contract shall mean the salaries of employees of the Reassured and normal office expenses.

Unallocated Loss Adjustment Expense has the meaning given to it in the Loss Portfolio Transfer Agreement.

Unallocated Loss Adjustment Expense means the unallocated loss adjustment expenses as calculated for purposes of SAP and in accordance with Schedule 2, if applicable.

Unallocated Loss Adjustment Expense means those costs and expenses associated with the service and management of the Subject Business that cannot be allocated to a specific claim for Net Loss and consisting of, but not limited to, the salaries, benefits, other compensation and expenses of personnel of the Ceding Companies or their Affiliates or office overhead or similar internal costs of the Ceding Companies or their Affiliates.

Unallocated Loss Adjustment Expense means those costs and expenses associated with the service and management of the Subject Business that cannot be allocated to a specific claim for Net Loss, and consisting of, but not limited to, the salaries, benefits, other compensation and expenses of personnel of the Ceding Companies or their Affiliates, equipment, travel, or administrative costs related to office space, overhead or supplies or similar internal costs of the Ceding Companies or their Affiliates.

Unallocated Loss Adjustment Expense means those costs and expenses incurred by a Party that are associated with the service and management of the Subject Business and that are not Loss Adjustment Expenses, such as personnel costs, overhead or similar internal costs. For the avoidance of doubt, whether or not the Company or the Reinsurer reflects an expense as an Unallocated Loss Adjustment Expense on its financial statements or other books and records shall not affect whether such expense qualifies as Unallocated Loss Adjustment Expense for purposes of this Contract.