Loss Adjustment Expense (LAE).

Loss adjustment expenses (LAE) are the costs incurred by an insurance company to investigate and settle insurance claims. LAE includes the costs of claims adjusters, investigators, lawyers, and other professionals who handle claims on behalf of the insurer. LAE also includes the costs of any settlements or judgments awarded to the claimant. LAE is a … Read more

How a Currency Forward Works.

A currency forward is a type of derivative contract that allows two parties to agree to exchange two different currencies at a future date, at a specified rate. The rate is agreed upon at the time the contract is signed, and the exchange takes place on the date specified in the contract. Currency forwards are … Read more

Oral Will Definition.

An oral will is a will that is not written down, but is instead spoken aloud by the person who is making the will (the “testator”). Oral wills are not valid in most jurisdictions, and must be made in front of witnesses who can attest to the fact that the will was spoken by the … Read more