Loss Carryback
Definition of "Loss carryback"
Ruling that, under current tax law, if an insurance company is to use a loss carryforward accounting adjustment, the company must first offset a net income loss in a specified time period against a net income gain in the three preceding years.
Popular Insurance Terms
Professional designation earned after the successful completion of four national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as principles ...
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