AMOUNT OF LOSS
\ɐmˈa͡ʊnt ɒv lˈɒs], \ɐmˈaʊnt ɒv lˈɒs], \ɐ_m_ˈaʊ_n_t ɒ_v l_ˈɒ_s]\
Definitions of AMOUNT OF LOSS
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In insurance. The diminution, destruction, or defeat of the value of, or of the charge upon, the insured subject to the assured, by the direct consequence of the operation of the risk insured against, according to its value in the policy, or in contribution, for loss, so far as its value is covered by the insurance.
By Henry Campbell Black