Ultimate Net Loss
Definition of "Ultimate net loss"
Insurer's total payments resulting from a claim, including all related expenses, less any recoveries from salvage, reinsurance, and the exercise of subrogation rights or other rights against third parties.
Popular Insurance Terms
Dividend in a participating policy paid after the death of an insured, representing dividends earned between the last dividend date and the insured's death. ...
Insured plan under which the insurance company agrees to provide the insured with a series of benefits on a benefits-paid basis plus administrative services on a stipulated-fee basis. This ...
Same as term Deductible: amount of loss that insured pays in a claim; includes the following types: Absolute dollar amount. Amount the insured must pay before the company will pay, up to ...
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