Terms starting with L

Line of business, in the realm of commercial insurance, refers to a specific category or type of insurance coverage that is offered to businesses or individuals within a particular industry...

A liberalization clause is an insurance policy provision that provides additional coverage or benefits to the policyholder without requiring additional premium payments. It is designed to protect policyholders against changes...

Loss adjustment expense (LAE) is a term commonly used in the insurance industry, which holds significant importance when it comes to understanding the financial aspects of managing insurance claims. The...

A loss triangle is a way to analyze and predict losses over a given period, typically by tracking the frequency and severity of claims. Loss triangles are used during a...