What does Loss Expense mean? Read on to discover the definition & meaning of the term Loss Expense - to help you better understand the language used in insurance policies.
The cost of investigation and adjustment of claims, as distinguished from the amount of a claimant's recovery from the insurance carrier under the policy. Unallocated loss expense is for expenses outside the office overhead. Allocated loss expense is for expenses outside the organization.
We hope the you have a better understanding of the meaning of Loss Expense.