Valuation Of Potential Property Loss
Definition of "Valuation of potential property loss"
Risk management technique that evaluates property exposures preparatory to managing the risk. Although risk managers consider the original cost, depreciation, market value, and tax-appraised value of property, replacement cost is the most helpful in determining the value of the property, giving the truest indication of the degree of the exposure to be insured or otherwise financed.
Popular Insurance Terms
Value of benefit or contribution allocated to an employee under a pension plan; method of determining benefits due a retired employee. Each private pension plan establishes rules for ...
cost of annuity based on expectation of life of the annuitant and the expense and profit loadings of the insurance company. ...
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
Formula for a given line of insurance used by property and casualty insurance companies to compare losses and loss adjustment expense with premiums. This shows the amount of each premium ...
Amount that the owner of a life insurance policy can borrow at interest from the insurer, up to the cash surrender value. If interest is not paid when due, it is deducted from any remaining ...
Agent with the authority from an insurance company to prepare and to place into business an insurance policy. ...
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Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
Deliberate act or omission. These torts include trespass an individual enters property owned or in the possession of another without permission; conversion an individual exerts control and ...
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