Ultimate Net Loss

Definition

• The total amount that an insurance company is obligated to pay the insured after a valid claim is filed.

Acronyms
UNL

Related Terms and Acronyms

• Insurance (insur) — Abbreviation,
  • An arrangement where one party provides financial protection to another party for specific damages or losses.
• Insurance Claim — Definition,
  • An application for benefits made by an insurance policyholder after an insured event.
• Insured Value — Definition,
  • What an insurer will pay to replace an insured asset.
• Loss Payee — Definition,
  • An entity that is legally entitled to the benefits of an insurance claim.
• Loss Settlement Amount — Definition,
  • The percentage of damages an insurer is contractually obligated to pay for after a claim.
• Valuation Clause — Definition,
  • A clause in an insurance contract that states how much an insurer is willing to pay for an asset after an insured event.