Claim loss definition

Claim loss means amounts paid by the division in the investigation and resolution of a claim including, but not limited to, payments to the guaranteed, payments to adverse claimants, attorneys’ fees, and all other expenses and costs related to or arising from the claim in accordance with the provisions of this rule.
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Claim loss and “Claims/Losses” shall mean all claims and losses of all kinds and descriptions including liabilities, liens, privileges, and other encumbrances, causes of action (including actions in rem or in personam, at law or in equity), obligations, judgments, interest, costs, expenses, and awards whether created by law, contract, tort, arbitration, voluntary settlement (to the extent authorized by the Indemnitor), or otherwise, and including, except as otherwise expressly provided, claims based on contractual indemnity, claims for punitive, exemplary, consequential or indirect damages, and claims for bodily injury, personal injury, illness, death, and property damage including claims and/or losses for the above regardless of how such claims and/or losses may be characterized.
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Claim loss means the amount of liability paid or to be paid with respect to claims with a date of injury on or after the Inception Date under the Clarendon Program Insurance Policies after making deduction for all salvage and subrogation; provided, however, that the allocation of claim liability pertaining to any injury not occurring on a specific date shall be determined according to California law, irrespective of where the insured resides or the injury occurs; provided, further, that Claim Loss when applied in the context of an Involuntary Mechanism shall be limited solely to liability paid or to be paid with respect to premium written from and after the Inception Date under the Clarendon Program Insurance Policies, after making deduction for all salvage and subrogation.
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Examples of Claim loss in a sentence

  • The Claim Loss Fund Account will be funded in an amount that the Claims Administrator and Reinsurer agree is necessary for the purpose of paying Claims and Loss Adjustment Expenses under the Subject Policy(ies).

  • Broncus and Asthmatx shall each bear their own cost, and shall not be reimbursed by the other party for, any Pre-Spinoff Alair Claim Loss such party suffers or incurs that is subject to an insurance deductible under a Broncus Insurance Policy.

  • If either Broncus or Asthmatx incurs or suffers any Pre-Spinoff Alair Claim Loss, then it will first seek to obtain coverage for such Pre-Spinoff Alair Claim Loss from any available Alair Insurance to the maximum extent that coverage for such Pre-Spinoff Alair Claim Loss is available under the Alair Insurance, before seeking or obtaining any coverage for such Pre-Spinoff Alair Claim Loss under any Broncus Insurance Policy.

  • The parties agree that the Company's intentional or grossly negligent acts or omissions with respect to this Article XI shall relieve the Reinsurer of any liability hereunder with respect to any such Claim, Loss or Policy.

  • Any liability under this Agreement for a Dispute or a Third Party Claim Loss is subject to the provisions of this Section 9.6, except that a Dispute under Section 10.2 or a claim for indemnification for Third Party Claim Losses is not subject to the limits set forth in Sections 9.6(a).

  • An Indemnified Party is entitled to indemnification from a Third Party Claim, and a Third Party Claim Loss will include, any indirect, special, incidental or consequential damages or losses, including without limitation loss of profits, income or business opportunities by the party claiming through the Indemnified Party.

  • Upon the final resolution of any Claim, Loss or demand in respect of which any amount has been so withheld, the amount withheld shall be promptly paid to the Stockholders, after set-off by the Purchaser of the amounts due in respect thereof pursuant to this Agreement, and subject to withholdings for any other Claim, Loss or demand then remaining outstanding.

  • The Claim Notice must describe the asserted liability in reasonable detail, and must indicate the amount (estimated, if necessary and to the extent feasible) of the Third Party Claim Loss that has been or may be suffered by the Indemnified Party.

  • Purchaser hereby agrees to indemnify and hold harmless USOP against any Liability, Claim, Loss, damage or expense incurred by Purchaser relating to any fees or commissions owed to any broker, finder or financial advisor as result of actions taken by Purchaser.

  • USOP hereby agrees to indemnify and hold harmless Purchaser against any Liability, Claim, Loss, damages or expense incurred by USOP or any other Seller relating to any fees or commissions owed to any broker, finder or financial advisor as a result of actions taken by USOP or any other Seller.


More Definitions of Claim loss

Claim loss means any paid loss or other payment that may arise under or relate to any Policy, including Allocated Loss Adjustment Expense.
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Claim loss or “Claims/Losses” means any obligation, liability, claim, suit, action, proceeding, investigation, dispute, cost or expense (including any judgment, award, settlement, reasonable attorneys’ fees, reasonable consultant and expert fees, and other costs and expenses incurred in connection with the defense or resolution of any actual or threatened suit, action, proceeding, investigation, dispute or claim, including appellate or bankruptcy proceedings, and any collection or enforcement costs). “CM Fee Base” means the total hard costs relating to construction of the applicable Approved Project (excluding hard costs included in the Pre-Development Fee Base and land costs) for the applicable Approved Project; except that (A) the CM Fee Base shall not include cost overruns that would not have been incurred absent a material breach on the part of Manager under this Agreement (while Builder is Manager) or a material breach on the part of Construction Manager under the applicable Construction Management Agreement, and (B) the CM Fee Base for an Approved Project shall not exceed the sum of (i) the hard costs for materials relating to construction of the applicable Approved Project set forth in the Approved Budget, and (ii) the Adjusted Labor Budget. “CM Responsible Cost Overruns” shall, with respect to an Approved Project, have the meaning set forth in the applicable Construction Management Agreement. “Company Asset” means each asset in which the Company owns a direct or indirect interest.
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Related to Claim loss

  • Claim Notice has the meaning set forth in Section 8.4(a).

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • Claim Amount means the amount calculated in accordance with Section 6.2 of this Policy.

  • Direct Claim has the meaning set forth in Section 8.05(c).

  • Indemnification Claim Notice has the meaning set forth in Section 11.3.

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Work loss means loss of income from work the injured victim would have performed if the injured victim had not been injured and expenses reasonably incurred by the injured victim in obtaining services in lieu of those the injured victim would have performed for income,

  • Warranty Claim means any claim for breach of Warranty;

  • Liability Claim has the meaning set forth in Section 7.2(a).

  • Claims Notice has the meaning set forth in Section 9.3(a).

  • Indemnifiable Loss means, with respect to any Person, any action, claim, cost, damage, deficiency, diminution in value, disbursement, expense, liability, loss, obligation, penalty, settlement, suit, or tax of any kind or nature, together with all interest, penalties, legal, accounting and other professional fees and expenses reasonably incurred in the investigation, collection, prosecution and defense of claims and amounts paid in settlement, that may be imposed on or otherwise incurred or suffered by such Person, whether directly or indirectly.

  • Claim Form or “Proof of Claim Form” means the form, substantially in the form attached hereto as Exhibit 2 to Exhibit A, that a Claimant must complete and submit should that Claimant seek to share in a distribution of the Net Settlement Fund.

  • Claimed Amount means the amount of any Damages incurred or reasonably expected to be incurred by the Indemnified Party.

  • Indemnification Claim has the meaning set forth in Section 10.3.

  • Insured Claim means any Claim arising from an incident or occurrence alleged to have occurred prior to the Effective Date that is covered under an insurance policy applicable to the Debtors or their businesses.