LOSSNOTICE

A notice of loss refers to the process of an insurance policyholder informing their insurance company that they have experienced a loss. This is the first step to getting reimbursed for a covered loss. The individual policy indicates the procedure to submit a notice of loss.  

PROOFOFLOSS

A proof of loss is a formal statement made by the insured to the insurer regarding a claim, especially in property insurance, so that the insurer may determine its liability under the policy.  

FULLRELEASE

A release is the document relinquishing a claim. A plaintiff or claimant signs a release in exchange for monetary payment, thereby giving up the right to pursue further indemnity in connection with the claim.