TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

incurred loss [2 records]

Record 1 2016-03-08

English

Subject field(s)
  • Insurance
DEF

Losses incurred: All losses which happened within the period under study, including both those that have been paid and the others which have not yet been paid, but will become payable.

DEF

Incurred losses: Total of losses paid and loss reserves. The "incurred losses" are calculated by adding the paid losses (less recoveries by subrogation or salvage) to the reserve for unpaid claims at the end of the period, and subtracting the reserve for unpaid claims at the beginning of the period.

OBS

Terms used in the plural form.

French

Domaine(s)
  • Assurances
OBS

Dans l'usage, ces termes devraient normalement s'employer au pluriel.

Spanish

Save record 1

Record 2 1996-08-29

English

Subject field(s)
  • Finance
  • Loans
CONT

Under the Small Business Loans Act (SBLA), the Minister was liable to pay ... 90 per cent of the amount of any loss sustained by a lender as a result of a BIL (Business Improvement Loan) made subsequent to March 31, 1993. Such payments were made only if the lender had minimized the loss through the sale of the defaulting business's assets and other legislated requirements were met.

French

Domaine(s)
  • Finances
  • Prêts et emprunts
CONT

En vertu de la Loi sur les prêts aux petites entreprises (LPPE), le Ministre était tenu de verser [...] 90% du montant de toute perte subie par un prêteur par suite d'un PAE (prêt destiné à l'amélioration d'entreprise) consenti après le 31 mars 1993. Il n'effectuait de tels versements que lorsque le prêteur avait minimisé ses pertes en vendant les éléments d'actif de l'entreprise en défaut de paiement et que les autres exigences de la LPPE avaient été respectées.

Spanish

Save record 2

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