Claims Expense
/ˈkleɪmz ɪkˌspɛns/
Definitions
- (n.) Costs incurred by an insurer to investigate, adjust, and pay claims made by policyholders.
The company set aside a significant amount to cover claims expense from recent policyholder submissions.
Forms
- claims expense
Related terms
See also
Commentary
Claims expense specifically refers to expenses related to claim processing and payment, distinct from premiums or underwriting costs.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.