Ultimate net loss

Ultimate net loss,

Definition of Ultimate net loss:

  1. Ultimate net loss is a party's total financial obligation when an insured event occurs. The insured's ultimate net loss from costs such as property damage, medical expenses and legal fees will be offset by the portion of the loss that is paid by the insurance company (usually the amount of the claim that exceeds the insured's deductible, up to the policy maximum). Thus, the insured's loss will often be limited to the policy deductible unless the total loss exceeds the policy maximum.

  2. An insurance company's ultimate net loss from a claim may be offset by the salvage value of any recoverable items, awards from successful claims against third parties, money from reinsurance and the policyholder's deductible and policy maximum. Ultimate net loss can be a generic term that refers to the total amount of any loss, but in finance, it is most commonly used to refer to an insurance company's total loss from a policyholder's claim.

  3. Total sum an insurer pays (or is obligated to pay) as a result of a claim. It includes all related costs less recoveries made from reinsurance, salvage, and the exercise of its rights under the subrogation principle against the third party that caused the loss.

Meaning of Ultimate net loss & Ultimate net loss Definition

Ultimate Net Loss,

How Do You Define Ultimate Net Loss?

  1. Definition of Ultimate Net Loss: The term refers to the loss insured by general liability insurance. Most general guidelines offer a specific definition of damage under this term. This usually includes the actual amount owed to the applicant in the context of the agreement or decision. Although the principal and other additional payments are included in the policy liability, these payments may also be included in the final definition of net loss policy.

  2. The final net loss is the full financial responsibility of the party when the insurance event occurs. The last net loss of the insurer, as a result of expenses such as property damage, medical expenses and attorney's fees, is covered by the part of the loss paid by the insurer (usually the amount of claims that the insured Is deducted from, up to the maximum value of the instruction). Insured losses are therefore often limited to policy deductions, unless the total loss exceeds the maximum insurance coverage.

  3. Ultimate Net Loss means: The term generally refers to the total amount paid by the patient or guarantor, or both, through mediation or commitment, and generally to the hospital, medical and funeral expenses, all amounts paid in salaries. Add. , Salary, Allowances. , Legal fees for appeals or covenant fees, fees and premiums, interest charges for doctors, lawyers, nurses and investigators and others, as well as claims for litigation, settlements, adjustments and insurance losses And litigation, excluding pay. Primary insured's insurance or permanent employee's.

Literal Meanings of Ultimate Net Loss

Ultimate:

Meanings of Ultimate:
  1. At the end of the final process.

  2. The best of its kind can be achieved or imagined.

  3. The ultimate or basic fact or principle.

  4. The ultimate refresher stands

Sentences of Ultimate
  1. Your main goal is to force your resignation

  2. The height of decorative luxury

  3. He drew his strong views on "pluralism without ultimatums" from classical sources and especially from his comprehensive critical reflections on the latter, Alexander, Hegel and Marx.

  4. Jensen's brother and father played Ultimate for the University of Oregon.

Synonyms of Ultimate

eventual, last, final, concluding, conclusive, terminal, end, endmost, furthest, utmost, optimum, last word, very limit, height, epitome, peak, pinnacle, acme, apex, apogee, zenith, culmination, perfection

Net:

Meanings of Net:
  1. A piece of loose netting made of rope, rope, rope or the like that is commonly used for fishing or other animals.

  2. This structure is made up of nets in the frame that make goals in sports such as football and hockey.

  3. An excellent weave that is open.

  4. A way to catch someone.

  5. Internet.

  6. Catch or land (fish or other animal).

  7. (In sports) kicking or kicking (ball or puck) on goal

  8. Cover it with gauze.

  9. (Quantity, price or value) is left after deductions, such as taxes or rebates.

  10. (Effect or result) final or universal.

  11. Earn or receive net profit (one cash).

Sentences of Net
  1. Fishermen repair their nets

  2. Turns Wilson's cross into a goal

  3. Clean the curtains

  4. The search was suspended so that the killers could escape from the Internet

  5. Ensuring privacy on the Internet is more and more difficult

  6. Damage to fishing

  7. Wright scored 177 goals in six years

  8. Increase in earnings per share

  9. The end result is the same

Synonyms of Net

netting, meshwork, mesh, webbing, tulle, fishnet, openwork, lace, lacework, latticework, lattice, trap, booby trap, snare, after taxes, after deductions, take-home, clear, final, end, ultimate

Loss:

Meanings of Loss:
  1. The fact or action of losing someone else.

Sentences of Loss
  1. Don't waste your time

Synonyms of Loss

mislaying, misplacement, dropping, forgetting, overlooking