Agricultural Disaster Loss Evaluator (손해평가사) key terms

A monetary figure representing the actual value of the insured subject at the time and place of loss, used as the ceiling for indemnity. It differs from the insured amount, which is the limit stated in the contract.

The maximum sum the insurer agrees to pay under the policy, stated on the policy schedule. It may be set below, equal to, or above the insured value, and payment is capped by it.

The actual financial loss suffered by the insured, calculated as insured value minus remaining value, then reduced by salvage and adjusted for the deductible and any underinsurance ratio.

A settlement method that pays only the ratio of insured amount to insured value when the policy limit is lower than the value, so the insured bears part of every loss proportionally.

The portion of each loss the insured must bear themselves, fixed as an amount, a percentage, or a per-unit deduction, applied before the insurer calculates the payable indemnity.

Risks, causes, or circumstances expressly excluded from cover in the policy terms, such as intentional acts, war, or neglect of ordinary care, for which no indemnity is payable.

The specific accidental event defined in the policy whose occurrence triggers the insurer's obligation to evaluate and pay, for example typhoon damage or livestock disease outbreak.

A public-supported agricultural insurance scheme covering crop, livestock, and facility losses from natural disasters, subsidized by government premium support and operated under the agricultural insurance law.

A licensed professional who surveys damage at the loss site, quantifies the loss for agricultural insurance claims, and prepares the evaluation report that supports the insurer's indemnity decision.

The formal document an evaluator submits after a site survey, recording the insured subject, damage facts, measurement results, calculation basis, and the assessed loss amount with supporting evidence.

The on-site inspection in which the evaluator verifies the insured subject, measures damage, interviews the policyholder, and collects photographic and documentary evidence before calculating any loss.

A survey method that measures a representative sample of plants, trees, or animals and extrapolates the damage rate to the whole insured unit, used where full enumeration is impractical.

A complete enumeration in which every insured unit, such as each tree or each livestock head, is individually inspected and counted, required when damage is uneven or the policy demands it.

A photo log that pairs dated site photographs with location, subject, and measurement notes, serving as verifiable evidence of damage extent in the loss evaluation report.

The proportion of loss relative to the insured subject's normal value or expected yield, expressed as a percentage and used to decide whether the deductible threshold is met and how much to pay.

The percentage reduction in expected yield caused by the disaster, estimated by comparing damaged plants' actual production with the normal production of equivalent healthy plants.

The reference yield per unit area set for a crop and region from historical averages, used as the baseline against which actual damaged production is compared when calculating loss.

The normal crop condition averaged over a defined reference period, used to judge whether observed shortfalls stem from the insured disaster rather than ordinary variation.

The number of fruits set on a tree or plant, counted during survey to estimate potential yield and to compare with normal fruit set when assessing disaster-related loss.

The weight or count of fruit borne by a single tree, measured on sample trees and multiplied by tree numbers to estimate the total production of the insured orchard.

The value of what remains after a loss, such as salvageable produce, timber, or damaged equipment, deducted from the loss amount so the insured does not profit from the event.

The cost of reseeding or replanting after early-season damage, which may be covered as a separate benefit when the crop is destroyed before establishment and the policy provides it.

Insured structures used for farming, including greenhouses, vinyl houses, livestock sheds, and storage buildings, evaluated for damage to framing, covering, and installed equipment.

A plastic-film greenhouse whose pipes, frames, and covering film are separately assessed for disaster damage, with repair cost or replacement cost used as the loss measure.

The reduction in an asset's value from age, wear, and use, applied when settling facility or machinery losses so that indemnity reflects current value rather than new replacement price.

Insured farm machinery such as tractors, combines, and transplanters, evaluated for damage by repair estimate or by depreciated market value when repair is uneconomical.

Insurance covering death, disease, and disaster losses of insured livestock, under which the evaluator confirms head counts, identification, cause of loss, and carcass disposal records.

An ear tag or individual identification mark attached to livestock, used to verify that the animal claimed is the one insured and to prevent duplicate or fraudulent claims.

The death of insured livestock from a covered cause, which must be confirmed by the evaluator through carcass inspection, veterinary records, and disposal documentation before indemnity.

The removal of livestock from the herd for reasons such as low productivity or disease control, which is generally not treated as an insured loss unless the policy expressly covers it.

The party who concludes the insurance contract with the insurer and bears the duty to pay premiums and disclose material facts, distinct from the insured person or beneficiary.

The duty of the contract party to disclose material facts truthfully when applying for cover; breach can let the insurer cancel the contract or reduce payment.

The published standards and procedures that prescribe how evaluators survey, measure, and calculate losses, ensuring consistent and defensible results across regions and crops.

A situation where an evaluator's personal, financial, or family interest could bias the assessment, which must be disclosed and avoided to preserve the report's independence.

Official documentation of the disaster event, such as weather records or local government damage confirmations, used to establish that the reported loss was caused by a covered peril.