ULAE definition

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

Examples of ULAE in a sentence

  • 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).

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

  • They reflect Congressional recognition that stereotyped assumptions about what constitutes a disability, or unfounded concerns about limitations of individuals with current or previous impairments, form major discrimatory barriers.

  • In Sections A, B, C and D, separately identify total policy year 2022 projected company expenses for servicing ceded business by ULAE expenses, Underwriting/Technical Services expenses, Loss Control Services expenses, and Company/General expenses.

More Definitions of ULAE

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.
ULAE means those expenses necessary for the adjustment of losses other than expenses allocated to a particular claim.
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 the salaries of the officials or regular employees of the Reinsurer or its delegee(s) or office expenses, fees or costs of whatever kind of the Reinsurer or its delegee in connection with the administration of the Covered Contracts.
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 expenses which cannot be allocated to a specific Covered Claim (a) incurred by a third party claims administrator for the processing, tracking, reporting or handling of Covered Claims; or (b) incurred by Seller to finance or fund any letter of credit or surety bond required by insurers with respect to Covered Claims generally.