Terms starting with L
Litigation costs refer to the expenses incurred during the process of legal action, including all expenditures related to bringing or defending a lawsuit. This term may refer to a wide...
Loss Mitigation Coverage is an important component of the insurance industry, specifically within the realm of property and casualty insurance. This type of coverage plays a critical role in reducing...
Loss Run Report may refer to a critical document in the insurance industry, essential for assessing the history of claims made on an insurance policy. This report provides a detailed...
Litigation refers to the process of taking legal action through the courts to resolve disputes between parties. This term may refer to the various stages of a lawsuit, including the...
Loss of profit refers to the financial detriment a business experiences when it is unable to generate the expected revenue due to unforeseen events or circumstances. This term may refer...
License dispute refers to a disagreement or conflict arising from the terms, conditions, or enforcement of a licensing agreement between parties. This term may refer to issues such as royalty...
Legal Defense Costs may refer to the expenses incurred in defending against legal actions brought against an individual or entity. The definition encompasses a variety of costs associated with legal...
Liability, in its broadest definition, refers to the state of being responsible for something, especially in terms of legal or financial obligations. In the context of law and finance, liability...
The term Limit of Liability may refer to the maximum amount of money an insurer is willing to pay out for a particular claim. This limit is typically outlined in...
The term “Loss Ratio Insurance” may refer to the type of insurance coverage that pays the insured an agreed-upon amount of money based on the amount of money lost in...
Lenders Loss Payable Endorsement may refer to an insurance endorsement that provides coverage to a lender in the event of a loss. It functions to protect the lender in the...
A Loss Report in the field of insurance is an essential document that plays a vital role in the claim process. The definition of a 'Loss Report' refers to a...
"Loss Ratio" is a formula to determine profitability of an underwriting business. Generally, it compares premium received and claims dollars paid out plus reserved for future payout, usually measured annually....
Lost Policy Release is a type of insurance document used to release the insurer from any liability for a policy that has been lost or destroyed. It may refer to...
Loss Costs Insurance is an insurance policy which covers the financial losses that an insured individual or company may incur due to a variety of unfortunate circumstances. Loss Costs Insurance...
A License and Permit Bond is a type of surety bond that guarantees that a business or individual will comply with the applicable laws, regulations, and/or ordinances in order to...
Legal Malpractice, also known as professional negligence, is a term that may refer to an attorney’s failure to provide competent representation, or to provide services with a reasonable degree of...
Licensed and Insured may refer to any individual or business that has been granted a license to operate or conduct business legally and has purchased insurance to protect against potential...
LLC Taxes may refer to taxes that are associated with Limited Liability Companies, or LLCs. An LLC is a business structure created by state statute that provides limited liability to...
Loss Payee is a term used in the insurance industry that may refer to an individual or organization that is named in an insurance policy as the recipient of a...
At the outset of discussing insurance terminology, the term "Loss Payable Endorsement" may refer to a specific addition or modification made to an insurance policy that designates another party as...
Legal Fees may refer to the costs associated with legal services. These costs may include attorney fees, court costs, and other associated costs. Legal fees are the charges for legal...