What does Loss Severity mean? Read on to discover the definition & meaning of the term Loss Severity - to help you better understand the language used in insurance policies.
Loss severity refers to the financial value a loss. The term, "loss severity," can apply to any type of insurance loss. Loss severity must be calculated so that claims can be properly filed and so that insurance companies and policyholders can understand exactly how much money should be paid to the policyholder.
We hope the you have a better understanding of the meaning of Loss Severity.