MLchartDataset catalogue

Ultimate net loss (UNL)

Term · Insurance and risk management · MLC-T-INS-003393

The total amount an insured or reinsured becomes obligated to pay on a loss, including settlements, judgments, and in most forms investigation and defense costs, after deducting salvage and recoveries from other sources. An excess or umbrella policy pays the part of ultimate net loss that is above its attachment point, and its limit is measured against that same figure.

Table 1. Record
IdentifierMLC-T-INS-003393
FieldInsurance and risk management
SubjectExcess Umbrella
AbbreviationUNL
Record as JSON 
{
  "id": "MLC-T-INS-003393",
  "term": "Ultimate net loss (UNL)",
  "field": "Insurance and risk management",
  "definition": "The total amount an insured or reinsured becomes obligated to pay on a loss, including settlements, judgments, and in most forms investigation and defense costs, after deducting salvage and recoveries from other sources. An excess or umbrella policy pays the part of ultimate net loss that is above its attachment point, and its limit is measured against that same figure.",
  "abbreviation": "UNL",
  "subject": "Excess Umbrella",
  "url": "https://mlchart.com/terminology/insurance/ultimate-net-loss-unl/"
}

Record 3,488 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.