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Definite loss: The loss takes place at a known time, in a identified place, and from a identified cause. The classic example is the death of an insured particular person on a life insurance coverage policy. Hearth , automobile accidents , and employee accidents might all simply meet this criterion. Other varieties of losses might only be definite in concept. Occupational disease , for example, may involve extended exposure to injurious circumstances where no specific time, place, or trigger is identifiable. Ideally, the time, place, and reason behind a loss needs to be clear sufficient that an inexpensive particular person, with enough information, might objectively confirm all three parts.
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