Losses Incurred definition

Losses Incurred means ceded losses and Loss Adjustment Expense paid as of the effective date of calculation, plus the ceded reserves for losses and Loss Adjustment Expense outstanding as of the same date.

Losses Incurred as used herein shall mean ceded losses and loss adjustment expense paid as of the effective date of calculation, plus the ceded reserves for losses and loss adjustment expense outstanding as of the same date, all as respects losses occurring during the contract year under consideration, plus the debit or minus the credit from the preceding contract year.

Losses Incurred as used in this section, means gross losses incurred during the calendar year under such policies written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source ap- plicable to the such losses.

Examples of Losses Incurred in a sentence

• If more than one Loss is sustained by You as a result of the same accident, only one amount, the largest applicable to the Losses incurred, will be paid.

• It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement (other than an action brought to enforce a claim for Losses incurred in defending against a Claim related to an Indemnifiable Event in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed.

• The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses, including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”), incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such Losses incurred as a result of your gross negligence or willful misconduct.

• If more than one Loss is sustained by an Insured as a result of the same accident, only one amount, the largest applicable to the Losses incurred, will be paid.

• Each Tenderer acknowledges and agrees that the City will not be responsible for Losses incurred by the Tenderer as a result of or arising out of submitting a Tender, or due to the City’s acceptance or non-acceptance of its Tender, or any part thereof, or any breach by the City of the Tender Contract between the City and the Tenderer, or arising out of any Contract award not being made in accordance with the express or implied terms of the Tender Documents.

More Definitions of Losses Incurred

Losses Incurred means Losses ceded and Loss Adjustment Expense ceded as of the effective date of calculation, plus the ceded reserves for Losses and Loss Adjustment Expense outstanding as of the same date (including losses incurred but not reported), it being understood and agreed that all Losses and related Loss Adjustment Expense under Policies with effective or renewal dates during an adjustment period shall be charged to the adjustment period, regardless of the date said Losses actually occur.

Losses Incurred as used herein shall mean ceded losses paid as of the effective date of calculation, plus the 10.0% allowance for loss adjustment expense, plus the ceded reserves for losses outstanding as of the same date, plus the debit or minus the credit from the preceding adjustment period, it being understood and agreed that all losses and related loss adjustment expense under policies with effective or renewal dates during an adjustment period shall be charged to that adjustment period, regardless of the date said losses actually occur, unless this Agreement is terminated on a "cutoff" basis, in which event the Reinsurer shall have no liability for losses occurring after the effective date of termination.

Losses Incurred means losses paid plus loss adjustment expenses paid less salvages recovered in respect of claims made during the period for which computation is being made, plus the reserve for unpaid outstanding losses and loss adjustment expenses at the close of the period, in respect of claims made during the period.

Losses Incurred as used herein shall mean ceded losses and loss adjustment expense paid as of the effective date of calculation, plus the Company’s ceded reserves for losses and loss adjustment expense outstanding as of the same date, it being understood and agreed that all losses and related loss adjustment expense under policies allocated to an underwriting year shall be charged to that underwriting year, regardless of the date said losses actually occur, unless this Contract is terminated on a “cutoff” basis, in which event the Reinsurer shall have no liability for claims made or occurrences commencing after the effective date of termination.

Losses Incurred as used herein shall also include each such Subscribing Reinsurer’s share of any debit or credit under the expired contract.

Losses Incurred as used herein shall mean ceded losses and loss adjustment expense paid as of the effective date of calculation, plus the ceded reserves for losses and loss adjustment expense outstanding as of the same date, all as respects losses occurring during the contract year under consideration, plus the debit or minus the credit from the preceding contract year. As respects the first contract year hereunder, for any Subscribing Reinsurer participating under this Contract that also participated under the Company's Residential Quota Share Reinsurance Contract, effective 12:01 a.m., Central Standard Time, April 1, 2013 (the "expired contract"), "losses incurred" as used herein shall also include each such Subscribing Reinsurer's share of any debit or credit under the expired contract.

Losses Incurred means claims paid, claims incurred