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 ?
The court chose to treat the three parts of the ultimate net loss definition as hierarchical, giving greater weight to the earlier portions.
Last, the court analyzed the policy's definition of "Ultimate Net Loss," which was:
"Ultimate net loss" includes defense expenses if the "controlling underlying insurance" specifies that limits are reduced by defense expenses.
The insurer will pay the ultimate net loss in excess of the insured's retained limit.
The County of San Diego court also reasoned that in the policy at issue there, unlike the policies in Powerine II, the definition of the term "ultimate net loss" only served to identify the insured's total loss that would count toward exhaustion of the self-insured retention.
Because of the short positions Newell had taken on its behalf, the Congregation owed money to several securities dealers and faced an ultimate net loss of $3,819,352.
Look for a possible exclusion within the definition of ultimate net loss. He advised that you negotiate that the punitive exclusion be deleted.
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