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
Coverage tailored to the particular requirements of an insured, when a standard policy cannot be used to provide coverage for real or personal property. A manuscript policy is often written ...
Reinsurance term under which the reinsurer exercises its faculty or prerogative to insure a risk or reject a risk from a ceding company. ...
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Cost of the assets listed on the accounting records of the company. These assets include the following: real estate (to include any adjustments for depreciation), transportation equipment ...
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Number of times a loss occurs. ...
Same as term Application: written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, ...
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