In finance, this means a loss if income minus expenses become negative. In insurance terms, a loss can also mean the fact that when you get rid of something, then you have a loss. When this should happen and the loss is covered by your insurance, you can make a claim for the loss and receive compensation for it. At Hedvig, this is easily done in our app.
Cause of loss
Cause of loss means the dangers that can cause or trigger loss or damage. Can be direct (the action immediately before the loss) or indirect (part of an uninterrupted chain of events leading to the loss).