Reference guide
Insurance Glossary
Plain-language definitions of common insurance terms across policies, coverage, and claims. Check your policy or plan documents for the terms that apply to you.
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Showing 4 of 28 matching terms
Terms beginning with L
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Loss payee clause
General insurance - Policy wording protecting a named party with an interest in covered property, such as a lender or lessor.
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Loss portfolio transfer
General insurance - A reinsurance transaction transferring responsibility for a defined portfolio of existing loss reserves to a reinsurer.
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Loss run
Business insurance - A report listing a business’s prior claims and loss history, commonly requested during underwriting.
- Also called: loss history report
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Loss settlement
Home insurance - The policy method used to determine how much an insurer pays for a covered property loss.
- Also called: valuation settlement