Losses – Page 3 – itho's internet resources

What Is an Ex Gratia Payment? Understanding Non-Liability Funds

By Itho July 28, 2015

[ad_1] What Is an Ex Gratia Payment? An ex gratia payment compensates an individual for damages or claims without admitting liability. It is made by an organization, government, or insurer. Ex…

Delivered-at-Place (DAP) Definition, How It Works, and Obligations

By Itho July 23, 2015

[ad_1] What Is Delivered-at-Place (DAP)? The buyer is responsible for paying import duties and any applicable taxes, including clearance and local taxes, under the terms of a delivered-at-place (DAP) agreement.…

Chart of Accounts: Definition, How It Works, and Example

By Itho June 19, 2015

[ad_1] What Is a Chart of Accounts? A chart of accounts (COA) is an index of all of the financial accounts in a company's general ledger. In short, it is an…

Expected Loss Ratio (ELR) Method: Calculation and Insights

By Itho April 15, 2015

[ad_1] What Is the Expected Loss Ratio (ELR) Method? Expected loss ratio (ELR) method is a technique used to determine the projected amount of claims, relative to earned premiums. The…

What Are Experience Ratings in Insurance

By Itho March 24, 2015

[ad_1] What Is an Experience Rating? An experience rating is the amount of loss that an insured party experiences compared to the amount of loss that similar insured parties have.…

Understanding Excess of Loss Reinsurance: Definition, Features, and Benefits

By Itho March 21, 2015

[ad_1] What Is Excess of Loss Reinsurance? Excess of loss reinsurance is a type of non-proportional reinsurance in which the reinsurer indemnifies–or compensates–the ceding company for losses that exceed a…