exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Consequential Losses
Consequential losses are damages that arise as a result of other damages. In the context of indemnity insurance, this means: financial losses resulting directly from insured personal injuries or property damage are also insured. However, the consequential loss must be properly connected to the damage event.
Example: A freelancer damages his client’s computer. This means that he cannot complete an order on time and loses € 2.000 in lost sales. He holds the freelancer liable for this amount.
Consequential financial losses are insured under any conventional indemnity insurance policy. However, these losses only account for a fraction of the damages suffered by freelancers in everyday working life. Pure financial losses pose a much greater risk.
Term: Consequential Losses
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