Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Ballentine's Law Dictionary

    The settlement of an insurance loss.

  • Black's Law Dictionary: 2nd Edition

    In the law of insurance, the adjustment of a loss is the ascertainment of its amount and the ratable distribution of it among those liable to pay it; the settling and ascertaining the amount of the indemnity which the assured, after all allowances and deductions made, is entitled to receive under the policy, and fixing the proportion which each underwriter is liable to pay. Marsh. Ins. (4th Ed.) 499; 2 Phil. Ins. §§ 1814, 1815; New York v. Insurance Co.., 39 N. Y. 45, 100 Am. Dec. 400; Whipple v. Insurance Co., 11 R. I. 139.