actual total loss Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “actual total loss” in the English Dictionary

"actual total loss" in Business English

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actual total lossnoun [C or U]

uk   us   ( abbreviation ATL) INSURANCE
a ​situation in which ​insuredproperty is totally destroyed, ​lost, or made useless, and the ​insurancecompanypays the ​maximumamount: They ​claimed that the ​capture and ​removal of the ​ship to Somali waters ​constituted an ​actualtotalloss under the Marine Insurance ​Act.
(Definition of actual total loss from the Cambridge Business English Dictionary © Cambridge University Press)
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