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Industry loss warranty. Industry loss warranties ( ILWs ), are a type of reinsurance contract used in the insurance industry through which one party will purchase protection based on the total loss arising from an event to the entire insurance industry above a certain trigger level rather than their own losses. [1]
For banking, a loss ratio is the total amount of unrecoverable debt when compared to total outstanding debt. For example, if $100 was loaned, but only $90 was repaid, the bank has a loss ratio of 10%. These calculations are applied class-wide and used to determine financing fees for loans. If the average loss ratio on a class of loans is 2% ...
Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two competing entities, where the result is an advantage for one side and an equivalent loss for the other. [1] In other words, player one's gain is equivalent to player two's loss, with the result that the net improvement in benefit ...
Tax-loss harvesting is the process of writing off the losses on your investments in order to claim a tax deduction against your ordinary income. To claim a loss on your current year’s taxes, you ...
Incurred but not reported. In insurance, incurred but not reported ( IBNR) claims is the amount owed by an insurer to all valid claimants who have had a covered loss but have not yet reported it. Since the insurer knows neither how many of these losses have occurred, nor the severity of each loss, IBNR is necessarily an estimate.
Finite risk insurance is the term applied within the insurance industry to describe an alternative risk transfer product that is typically a multi-year insurance contract where the insurer bears limited underwriting, credit, investment and timing risk. [1] [2] The effect is similar to self-insurance by the insured as they will pay the whole ...
Intentional weight loss is the loss of total body mass as a result of efforts to improve fitness and health, or to change appearance through slimming. Weight loss is the main treatment for obesity, [1] [2] [3] and there is substantial evidence this can prevent progression from prediabetes to type 2 diabetes with a 7–10% weight loss and manage cardiometabolic health for diabetic people with a ...
Bearing capacity. In geotechnical engineering, bearing capacity is the capacity of soil to support the loads applied to the ground. The bearing capacity of soil is the maximum average contact pressure between the foundation and the soil which should not produce shear failure in the soil. Ultimate bearing capacity is the theoretical maximum ...