Loss Reports Clause Samples
Loss Reports. 1. At the direction of the SBA, the Company shall report its projected Ultimate Net Loss from each Loss Occurrence to provide information to the SBA in determining any potential liability for possible reimbursable losses under the Contract on the Interim Loss Report, Form FHCF-L1A, adopted for the Contract Year under Rule 19-8.029, F.A.C. Interim Loss Reports (including subsequent Interim Loss Reports if required by the SBA) will be due in no less than fourteen days from the date of the notice from the SBA that such a report is required.
2. FHCF loss reimbursements will be issued based on Ultimate Net Loss information reported by the Company on the Proof of Loss Report, Form FHCF-L1B, adopted for the Contract Year under Rule 19-8.029, F.A.C.
a. To qualify for reimbursement, the Proof of Loss Report must have the original signatures of two executive officers authorized by the Company to sign the report.
b. The Company must also submit a detailed claims listing (as outlined on the Proof of Loss Report) at the same time it submits its first Proof of Loss Report for a specific Covered Event that qualifies the Company for reimbursement under that Covered Event, and should be prepared to supply a detailed claims listing for any subsequent Proof of Loss Report upon request.
c. While a Company may submit a Proof of Loss Report requesting reimbursement at any time following a Loss Occurrence, all Companies shall submit a mandatory Proof of Loss Report for each Loss Occurrence no earlier than December 1 and no later than December 31 of the Contract Year during which the Covered Event(s) occurs using the most current data available, regardless of the amount of Ultimate Net Loss or the amount of loss reimbursements or advances already received. Reports may be faxed only if the Company does not qualify for a reimbursement.
d. For the Proof of Loss Reports due by December 31 of the Contract Year, and the required subsequent quarterly and annual reports required under subparagraphs 3. and 4. below, the Company shall submit its Proof of Loss Reports by each quarter-end or year-end using the most current data available. However, the date of such data shall not be more than sixty days prior to the applicable quarter-end or year-end date.
3. Updated Proof of Loss Reports for each Loss Occurrence are due quarterly thereafter until all claims and losses resulting from a Loss Occurrence are fully discharged including any adjustments to such losses due to salvage or other recove...
Loss Reports. 1. At the direction of the SBA, the Company shall report its Ground-up Losses for Covered Policies from each Covered Event to provide information to the SBA in determining any potential liability for possible reimbursable losses under the Contract on the Interim Loss Report, Form FHCF-L1A, as adopted in Rule 19-8.029, F.A.C.
2. No later than December 31 of the Contract Year, the Company shall report to the FHCF its Ultimate Net Loss with respect to each Loss Occurrence from the beginning of the Contract Year on the Proof of Loss Report, Form FHCF-L1B, as adopted in Rule 19-8.029, F.A.C.
3. Quarterly thereafter until all claims and losses resulting from Loss Occurrences commencing during the Contract Year are fully discharged, the Company shall render to the FHCF revised reports of the actual amount of Ultimate Net Loss incurred and paid to date by the Company with respect to each Loss Occurrence commencing during the Contract Year. If the Company’s Retention must be recalculated as the result of an exposure resubmission, and if the recalculated Retention changes the FHCF’s reimbursement obligations, then the Company shall submit additional reports of claims and losses for recalculation of the FHCF’s obligations.
4. Such reports shall include the actual or anticipated reinsurance recoveries from non-affiliated insurers and/or reinsurers on the Company’s Ultimate Net Loss, and a certification that such recoveries, together with the actual or anticipated reimbursement from the FHCF, shall not exceed 100% of the Company’s losses under Covered Policies from Covered Events.
5. The SBA will determine and pay, as soon as practicable after receiving Proof of Loss Reports described and adopted in Rule 19-8.029, F.A.C. the reimbursement amount due based on losses paid by the Company to date and adjustments to this amount based on subsequent quarterly information. The adjustments to reimbursement amounts shall require the SBA to pay, or the Company to return, amounts reflecting the most recent determination of losses.
6. Initial or quarterly reports received on or before the due date for that report will be reimbursed within 30 days following the due date or as soon as practicable after the receipt of the report and verification of the reported losses. Those received after the initial or quarterly reporting due date will be reimbursed within 30 days following the due date or as soon as practicable after the receipt of the report and verification of the reported losses...
Loss Reports. SFM Risk will provide monthly and/or quarterly claim loss reports to the Employer.
Loss Reports. A Loss Report shall be submitted to the Parks Accounting Manager within forty-eight (48) hours for any loss of any asset, including cash of any amount, and inventory or other items valued at more than $100, capital asset valued at more than $5000; small and attractive asset $300 or more per occurrence. The report shall be submitted on the City’s Loss Report form and shall include:
6.3.4.1. The exact or estimated amount of the loss.
6.3.4.2. Composition of the loss (cash/checks).
6.3.4.3. Date of the loss.
6.3.4.4. When and how the loss was discovered.
6.3.4.5. Whether it is known, who is responsible for the loss, (and, if so, the name).
6.3.4.6. When possible and appropriate to get, a copy of the police report shall be included in the report to the City.
6.3.4.7. Whether the loss is covered by insurance.
Loss Reports. 1. At the direction of the SBA, the Company shall report its projected Ultimate Net Loss from each Loss Occurrence to provide information to the SBA in determining any potential liability for possible reimbursable losses under the Contract on the Interim Loss Report, Form FHCF-L1A, as adopted in Rule 19ER04-2 (19-8.029)Rule 19-8.029, F.A.C.
2. No later than December 31 of the Contract Year, the Company shall report to the FHCF its Ultimate Net Loss, incurred and paid, with respect to each Loss Occurrence during the Contract Year on the Proof of Loss Report, Form FHCF-L1B, as adopted in Rule 19ER04-2 (19-8.029)Rule 19-8.029, F.A.C.
3. Quarterly thereafter until all claims and losses resulting from the Loss Occurrence(s) are fully discharged, the Company shall render to the FHCF revised Proof of Loss Reports with respect to each Loss Occurrence. If the Company’s Retention must be recalculated as the result of an exposure resubmission, and if the recalculated Retention changes the FHCF’s reimbursement obligations, then the Company shall submit additional Proof of Loss Reports for recalculation of the FHCF’s obligations.
4. Such reports shall include a certification that the actual or anticipated reinsurance recoveries from non-affiliated insurers and/or reinsurers, together with the actual or anticipated reimbursement from the FHCF, shall not exceed 100% of the Company’s losses under Covered Policies from Covered Events.
Loss Reports. A Loss Report shall be submitted to the Parks Accounting Manager within 48 hours for any loss of any asset, including cash but not including inventory, valued at $100 or more per occurrence, and the loss of inventory exceeding $500 or more. The report shall be submitted on the City’s Loss Report form (see Exhibit H) and shall include:
A. The exact or estimated amount of the loss.
B. Composition of the loss (cash/checks).
▇. ▇▇▇▇ of the loss.
D. When and how the loss was discovered.
E. Whether it is known, who is responsible for the loss, (and, if so, the name).
F. When possible and appropriate to get, a copy of the police report shall be included in the report to the City.
G. Whether the loss is covered by insurance.