Loss Fund definition
Loss Fund means an account from which money is used to pay all workers’ compensation expenses including current and contingent liabilities of a worker’s compensation claim of a pool.
Loss Fund means the total of each Member's Primary Loss Fund, Secondary Loss Fund, and County Home Excess
Loss Fund means a segregated fund consisting of amounts that may be utilized by the risk pool to satisfy section 3(d)(5) of this rule.
Examples of Loss Fund in a sentence
The parties further agree to establish, jointly, guidelines for the administration of the Personal Property Loss Fund.
The Board agrees to maintain a Personal Property Loss Fund of $10,000.
The system also pays the full premium for extended coverage under the Catastrophic Loss Fund of Pennsylvania.
The Claims Administrator shall not change the bank where the Loss Fund Account(s) is maintained without the prior written approval of Reinsurer.
If the Agreement is terminated Claims Administrator shall monitor and administer the Claim Loss Fund Account until all liabilities under the Policy(ies) have been resolved or completely paid.
More Definitions of Loss Fund
Loss Fund means the Assumed Premiums plus any investment income less Ceding Commission, Aggregate Reinsurance Expenses, Segregated Account Expenses, investment loss, Losses, and Reserves.
Loss Fund means the fund established by SORSA to provide for the payment of the losses in excess of the Deductible.
Loss Fund means those funds remaining from the contributions of Pool Members after the payment of the cost of excess insurance and administrative services.
Loss Fund. The amounts set aside by PRe, and held by MSRE in the Premium Monies Account as set out in the Master Services Agreement, for the payment of Losses and Loss-related expenses that are attributable to the Business Covered and that are expected to be paid, or settled, within the subsequent ninety (90) day period. “Loss in Excess of Original Policy Limits” or “XOPL” See Article 10(A).
Loss Fund means “the Direct Collected Premium, less the ceding commission, less any applicable excise taxes payable, less any fees charged for the management of the captive reinsurance facility, less any brokerage fees, if applicable.” Article II.
Loss Fund means all Contributions made by Members for a Line of Coverage in a Pooled Risk Retention Program pursuant to a Coverage Agreement, Trust Agreement, Bylaws, Rules or other agreements pursuant or incident thereto.
Loss Fund means the total of each Member's Primary Loss Fund, Secondary Loss Fund, and County Home Excess Liability Fund. “Primary Loss Fund” shall man the fund established by CORSA to provide for the payment of the first level of losses in excess of the Deductible.