Ultimate Net Loss

Definition

  • The total amount that an insurance company is obligated to pay the insured after a valid claim is filed.

Acronyms
UNL

Related Terms and Acronyms

  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Insurance Claim Definition,
    • An application for benefits made by an insurance policyholder after an insured event.
  • Insured Value Definition,
    • What an insurer will pay to replace an insured asset.
  • Loss Payee Definition,
    • An entity that is legally entitled to the benefits of an insurance claim.
  • Loss Settlement Amount Definition,
    • The percentage of damages an insurer is contractually obligated to pay for after a claim.
  • Valuation Clause Definition,
    • A clause in an insurance contract that states how much an insurer is willing to pay for an asset after an insured event.
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