ULAE definition

ULAE means unallocated loss adjustment expenses and similar unallocated expenses, including the salaries, benefits and expenses of Aspen’s (or any of its Affiliates’) employees and other overhead and office expenses (except for fees of staff counsel expressly included in the definition of “Allocated Loss Adjustment Expenses”).

ULAE means all expenses incurred in connection with the adjusting, recording and paying of claims under the Policies, other than ALAE.

ULAE has the meaning set forth in Section 4.26(b).

Examples of ULAE in a sentence

• This liability includes loss and adjustments expenses, incurred but not reported claims (IBNR), case reserves, and unallocated loss adjustment expenses (ULAE).

• The reserve for unallocated loss adjustment expenses (ULAE) represents the estimated cost to be incurred with respect to the settlement of both liability claims in process and those liability claims recognized as incurred but not reported (IBNR).

• The reserve for unallocated loss adjustment expenses (ULAE) represents the estimated cost to be incurred with respect to the settlement of both claims in process and those claims recognized as incurred but not reported (IBNR).

• Unallocated loss adjustment expense (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.[Statutory Authority: 2011 c 43.

• This agreement was further amended in 2019 to include coverage for unallocated loss adjustment expense (ULAE).

More Definitions of ULAE

ULAE. The unallocated loss adjustment expenses incurred by MSRE or its Agents in the investigation, adjustment, appraisal, or defense of all claims that pertain to the Business Covered, including declaratory judgment expenses, but excluding office expenses and the salaries of any director, officer, employee, and/or Agent of MSRE that are not directly related to the loss adjustment process as regards a specific claim or action with respect to the Business Covered. “Ultimate Combined Ratio” The sum of two ratios, the Ultimate Expense Ratio and the Ultimate Loss Ratio. “Ultimate Expense Ratio” The ratio calculated by dividing all other expenses related to the MSRE Assumptions not included in the Ultimate Loss Ratio by total earned premiums related to the proportion of policies assumed by PRe under this Agreement.

ULAE means unallocated loss adjustment costs and expenses incurred by a Ceding Company that are associated with the service and management of the Reinsured Policies and that are not loss adjustment expenses or Extra Contractual Obligations, such as salaries, benefits and expenses of personnel or any other unallocated overhead expenses of such Ceding Company. For the avoidance of doubt, whether or not a Ceding Company reflects an expense as “ULAE” on its financial statements or other books and records shall not affect whether such expense qualifies as “ULAE” for purposes of this Agreement.

ULAE means unallocated loss adjustment expenses and similar unallocated expenses, including the salaries, benefits and expenses of Aspen’s (or any of its Affiliates’) employees and other overhead and office expenses (except for fees of staff counsel expressly included in the definition of “Allocated Loss Adjustment Expenses”). “ULAE Reimbursement Amount” means an amount determined pursuant to Schedule 1.2 hereto. “Ultimate Net Loss” means the sum of (a) Covered Losses actually paid by or on behalf of Xxxxx, less (b) Recoverables collected by or on behalf of Aspen, less (c) Third Party Reinsurance Recoverables, less (d) Premiums collected by or on behalf of Aspen on or after the Effective Date. The terms “controller”, “data subject”, “personal data breach”, “processing”, and “supervisory authority” shall have the same meanings ascribed to them under the GDPR. ARTICLE II

ULAE means the underwriting and administrative costs of the Reinsured Group incurred and paid on or after April 1, 2017 that are not allocated to an occurrence or claim made under or in connection with a Policy in the investigation, adjustment, settlement, litigation, defense, or appeal of a specific claim including, but not limited to,

ULAE means, with respect to an Acquired Company, the unallocated loss adjustment expense of such Acquired Company. EXECUTION COPY

ULAE means unallocated loss adjustment expenses.

ULAE means the costs of "in-house counsel," claims staff or other overhead or general expenses of the Company or its agents, including the claims services provided by Solutions (or any third party replacing Solutions ) and any other costs incurred by the Company in connection with the investigation, adjustment, settlement, litigation or arbitration of claims or losses but not included in ALAE.