What does Loss Adjustment Expense mean? Read on to discover the definition & meaning of the term Loss Adjustment Expense - to help you better understand the language used in insurance policies.
Loss Adjustment Expense
The cost of investigating and adjusting losses. LAEs need not be allocated to a particular claim. If they are allocated to a particular claim, they are called "allocated loss adjustment expenses" (ALAE); otherwise, they are unallocated loss adjustment expenses (ULAE).
We hope the you have a better understanding of the meaning of Loss Adjustment Expense.