Which one of the following is an expense an insurer incurs to investigate, defend, and settle...
Which one of the following is an expense an insurer incurs to investigate, defend, and settle claims that are associated with a specific claim? Select one: a. Loss reserve b. Allocated loss adjustment expense (ALE) c. Unallocated loss adjustment expense (ULAE) d. Actuarial expense
Homework Answers
The expense that an insurer incurs to investigate, defend, and settle claims according to the terms specified in the insurance policy is known as Unallocated loss adjustment expense (ULAE), thus the answer is:
c. Unallocated loss adjustment expense (ULAE)
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