Definition : Loss - Declaration of loss

A written or verbal declaration of an insured addressed to its insurer, its claims adjuster or its insurance broker acting as intermediary, in relation to a loss susceptible of being covered by one of the guarantees of the insurance contract. It must be made by the insured as soon as he has knowledge of the loss or by any interested party. 

 WARNING! An insurer who has not been so notified, and thereby suffers injury, may set up against the insured any clause of the insurance policy providing for forfeiture of the right to indemnity in such a case.

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