Ultimate Net Loss


Also found in: Acronyms.

Ultimate Net Loss

The amount an insurance company pays on a claim after recouping some of its cost from reinsurance and other sources (but not premiums).
References in periodicals archive ?
Retained limit, self-insured retention, ultimate net loss, underlying insurance, and underlying insurer are terms that are also defined and that mark the policy as an umbrella coverage form.
According to the insured, because the limit of liability section referred to ultimate net loss, and since ultimate net loss included defense costs, the insured could count defense costs as part of the primary policy's limit of liability.
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