Valuation

{
  "id": "MLC-T-INS-003456",
  "term": "Valuation",
  "field": "Insurance and risk management",
  "definition": "The process of determining the monetary worth of an asset, liability, or business interest for insurance purposes, claims settlement, or financial reporting. In insurance, it establishes the basis for calculating premiums and the amount payable in the event of a loss. Common methods include actual cash value, replacement cost, and agreed value.",
  "url": "https://mlchart.com/terminology/insurance/valuation/"
}