MLchartDataset catalogue

Loss

Term · Insurance and risk management · MLC-T-INS-002059

The amount of financial detriment resulting from an insured event, which the insurer is obligated to cover under the terms of a policy. It represents the reduction in value, damage, or expense incurred by the policyholder due to a covered peril. Losses can be direct, such as property damage, or indirect, such as business interruption.

Table 1. Record
IdentifierMLC-T-INS-002059
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002059",
  "term": "Loss",
  "field": "Insurance and risk management",
  "definition": "The amount of financial detriment resulting from an insured event, which the insurer is obligated to cover under the terms of a policy. It represents the reduction in value, damage, or expense incurred by the policyholder due to a covered peril. Losses can be direct, such as property damage, or indirect, such as business interruption.",
  "url": "https://mlchart.com/terminology/insurance/loss/"
}

Record 2,013 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.