This glossary is for non-commercial educational purposes only. The
definition of the
terminology below is only a brief description and should not be considered factual or
the only definition possible. This information is only to help better inform you
of information related to liquidations.
The up-front amount of a loss for which the insured is responsible before benefits are paid; also known as a self-insured retention. The insurer's liability begins when or if the deductible is exhausted.
Determination Letter
This letter advises the claimant of the Liquidator's determination as to the validity of the claim, the value of the claim, and the claim priority level (class) for distribution according to § 3903.42 of the Ohio Revised Code.
Distribution of Assets
The payment of claims from the assets of a receivership pursuant to the order of priority set by the liquidation statute (in Ohio, § 3903.42 of the Ohio Revised Code).
Domiciliary State
The state in which an insurer is incorporated or organized, or, in the case of an alien insurer, its state of entry in the United States.
