INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES definition

INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES means, for any period, (A) case basis reserves plus losses incurred but not reported ("IBNR"), including development of losses for the applicable Earnout Period, as of the end of the period, using the latest information available at the conclusion of each Earnout Period or Release Period, plus (B) losses and Loss Adjustment Expenses paid during the period and less (C) case basis reserves plus IBNR, including development of losses for the applicable Earnout Period,
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INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES means, for any period, (A) case basis reserves plus losses incurred but not reported ("IBNR"), including development of losses for the applicable Earnout Period, as of the end of the period, using the latest information available at the conclusion of each Earnout Period or Release Period, plus (B) losses and Loss Adjustment Expenses paid during the period and less (C) case basis reserves plus IBNR, including development of losses for the applicable Earnout Period, as of the beginning of the period, using the latest information available at the conclusion of each Earnout Period or Release Period.
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INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES means an amount equal to 95% of the amount of estimated ultimate incurred losses and loss adjustment expense indicated in the Reserve Study for a Measurement Period, and including unallocated loss adjustment expenses, net of related amounts ceded to reinsurers as part of external reinsurance arrangements then in effect (calculated as if the Reinsurance Treaty had remained in place, except for the effect of an Approved Commutation or an Approved Material Revision) or, if greater, the amount of the insurance loss and loss adjustment expenses incurred by the Company and its Subsidiaries during a Measurement Period, net of related amounts ceded to reinsurers as part of external reinsurance arrangements then in effect (calculated as if the Reinsurance Treaty had remained in place, except for the effect of an Approved Commutation or an Approved Material Revision), as reflected in the Financial Statements in respect of such Measurement Period, calculated on a current accident year basis and including unallocated loss adjustment expenses, reduced by the amount of its total carried reserves reflected in the Financial Statements exceeding 103% of the total reserves indicated in such Reserve Study or increased by the amount of such total carried reserves below 103% of the total reserves indicated in such Reserve Study as of the end of such Measurement Period and reduced by any such loss or expense that is taken into account as a Reduction Amounts.
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Examples of INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES in a sentence

  • Trade Partners UK and Ministry of Agriculture “Modern Food Chain” Seminar, 2002, Kuala Lumpur.

  • CHANGE IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES No change.

  • CHANGE IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES No change.25.

  • NOTE 24: CHANGES IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES Not Applicable.

  • The studies which were using other technology models such as TAM, TRA, and TPB were excluded.

  • CHANGES IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES The Company had no material change in the provision for incurred loss and loss adjustment expenses attributable to insured events of prior years.

  • The cause of this disagreement could be a direct result of low level of knowledge of exercise plateau by the exercisers in Enugu metropolis.

  • The Credit Facility currently has a balance outstanding of approximately $30.5 million.

  • CHANGE IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES During the first quarter of 2009, the Company incurred losses and LAE of $0.6 million.

  • CHANGE IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES During 2010, the Company incurred losses and LAE of $16.2 million consisting of $17.4 million for current accident year claims and $(1.2) million relating to prior accident years.

Related to INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Loss Adjustment Expenses means all costs and expenses incurred by the Company in the investigation, adjustment and settlement of claims. Loss adjustment expenses include third-party costs as well as the Company’s internal expenses, including salaries and expenses of loss management personnel and certain administrative costs.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Incurred losses means the sum of:

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Net Realized Losses For any Class of Certificates and any Distribution Date, the excess of (i) the amount of Realized Losses previously allocated to that Class over (ii) the amount of any increases to the Class Certificate Principal Balance of that Class pursuant to Section 5.08 due to Recoveries.

  • Aggregate Net Losses means, with respect to a Collection Period, an amount equal to the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period minus all Net Liquidation Proceeds collected during such Collection Period with respect to all Defaulted Receivables.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Applied Loss Amount With respect to any Distribution Date, the amount, if any, by which (x) the aggregate Certificate Principal Amount of the Certificates after giving effect to all Realized Losses incurred with respect to the Mortgage Loans during the related Collection Period and distributions of principal on such Distribution Date, but before giving effect to any application of the Applied Loss Amount with respect to such date, exceeds (y) the Pool Balance for such Distribution Date.

  • Liquidating Losses means any net loss realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any event of liquidation of the Partnership), including but not limited to net loss realized in connection with an adjustment to the book value of Partnership assets under Section 6.2 hereof.

  • Unrealized losses means the fair market value of the cost to such Person of replacing such Rate Management Transaction as of the date of determination (assuming the Rate Management Transaction were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date).

  • Cumulative Realized Losses As of any date of determination, the aggregate amount of Realized Losses with respect to the Mortgage Loans.

  • Shared-Loss Amount has the meaning provided in Section 2.1(b)(i) of this Commercial Shared-Loss Agreement.

  • Seller Losses shall have the meaning set forth in Section 9.1(b).

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Cumulative Net Loss Test With respect to any Payment Date, a test that will be satisfied if the Cumulative Net Loss Percentage does not exceed the applicable percentage indicated below: Payment Date occurring in the period Percentage February 2018 to January 2019 0.10% February 2019 to January 2020 0.20% February 2020 to January 2021 0.30% February 2021 to January 2022 0.40% February 2022 to January 2023 0.50% February 2023 to January 2024 0.60% February 2024 to January 2025 0.70% February 2025 to January 2026 0.80% February 2026 to January 2027 0.90% February 2027 to January 2028 1.00% February 2028 to January 2029 1.10% February 2029 to January 2030 1.20% February 2030 and thereafter 1.30% Current Accrual Rate: With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related current Accounting Net Yield; and (ii) the related current mortgage rate thereon (as adjusted for any modifications) minus 0.35%.

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).