MLchartDataset catalogue

Loss assessment

Term · Insurance and risk management · MLC-T-INS-002061

A charge levied by a homeowners association (HOA) against its members to cover a shared loss or expense that exceeds the HOA's master insurance policy limits. This can occur after a major disaster or a large liability claim affecting common property. Homeowners policies often include limited coverage for loss assessments.

Table 1. Record
IdentifierMLC-T-INS-002061
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-002061",
  "term": "Loss assessment",
  "field": "Insurance and risk management",
  "definition": "A charge levied by a homeowners association (HOA) against its members to cover a shared loss or expense that exceeds the HOA's master insurance policy limits. This can occur after a major disaster or a large liability claim affecting common property. Homeowners policies often include limited coverage for loss assessments.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/loss-assessment/"
}

Record 2,015 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.