MLchartDataset catalogue

Direct loss

Term · Insurance and risk management · MLC-T-INS-001164

A financial loss that results immediately and directly from a covered peril, involving the physical damage or destruction of insured property. For example, the cost to repair a house after a fire is a direct loss. This contrasts with indirect or consequential losses, which arise as a result of the direct loss, such as lost rental income.

Table 1. Record
IdentifierMLC-T-INS-001164
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-001164",
  "term": "Direct loss",
  "field": "Insurance and risk management",
  "definition": "A financial loss that results immediately and directly from a covered peril, involving the physical damage or destruction of insured property. For example, the cost to repair a house after a fire is a direct loss. This contrasts with indirect or consequential losses, which arise as a result of the direct loss, such as lost rental income.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/direct-loss/"
}

Record 984 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.