[C138]

consequential loss

In property insurance contracts, consequential losses are indirect losses, a reduction in the value of property that is a result of a direct damage loss. Usually associated with time element, other remote or indemnification type losses. Consequential losses are different than ensuing losses as consequential losses are indirect losses--not direct damage losses, where ensuing losses are further or additional direct damage losses that have been initiated by the original direct damage cause of loss.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100

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