Insurance Glossary

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Larceny - It is a theft committed by a chance visitor to the premises

Latent defect - A hidden flaw that will, in time, cause property damage that is uninsurable. Such damage is uninsurable because the element of chance is no longer present.

Law of large numbers - An underlying principle of insurance; the larger the number of participants in a given arrangement, the more accurate the rate is to the exposure.

Legal liability - Any liability imposed on a person by a court of law

Liability - Damages payable for acts of omission, commission or negligence

Libel - Written defamation of another's reputation

Loss Adjustment Expense - Expenses incurred in the process of evaluating, defending and paying claims.

Loss Avoidance - A risk management technique whereby an activity that may result in the loss for a firm is avoided or abandoned.

Loss control - Any conscious action (or decision not to act) intended to reduce the frequency, severity, of accidental losses.


Contact Us

Al Ahlia Insurance
        P.O. Box 5282, 4th floor
        Chamber of Commerce Building
        Manama, Bahrain

Marketing@alahlia.com

0973 17 225860

0973 17 224870