Loss Adjuster
A loss adjuster, also known as a claims adjuster or insurance adjuster, is a professional who investigates insurance claims to determine the extent of the insurer’s liability.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Loss Adjustment Expenses Ratio
The Loss Adjustment Expenses Ratio (LAER) is a measure of how efficiently an insurance company is handling its claims.
Loss Payee
A loss payee is a person or entity that is named in an insurance policy to receive payment for a covered loss.
Loss Ratio
The loss ratio is a key metric used to assess the financial performance of an insurance company.
Machinery Breakdown Insurance
Machinery breakdown insurance, also known as equipment breakdown insurance or boiler and machinery insurance, is a type of insurance that provides protection for businesses against damage to their equipment and machinery.
Marine Cargo Insurance
Marine cargo insurance is a type of marine insurance that provides coverage for loss or damage to goods while they are in transit.
Marine Hull Insurance
A type of insurance that covers damage to a vessel’s hull, machinery, and equipment.
Marine Insurance
Marine insurance is a type of insurance that provides protection for property and liability risks associated with maritime activities, including the transportation of goods and people by sea.
Marine-cum-Erection Insurance
Marine-cum-erection insurance is a specialized type of insurance that provides comprehensive coverage for machinery, equipment, and structures during transportation and installation. It combines marine cargo insurance and erection all risks insurance to protect against loss or damage from the start of transportation to the completion of erection or installation at the final project site.
Mid Term Rewrite
A mid-term rewrite in insurance refers to replacing an existing insurance policy with a new one before the current policy’s expiration date.
Monline Insurance
Monoline insurance refers to an insurance company or policy that focuses on a single line of insurance business, rather than offering a diversified range of insurance products.
Motor Carriers Form (USA)
The Motor Carriers Form is a type of commercial auto insurance form used in the United States to provide coverage for businesses that transport property or passengers.