In insurance, what is the term for losses that an insurer has a duty to indemnify?

The term for losses that an insurer has a duty to indemnify is "insured losses." This terminology is utilized within the context of an insurance policy, where the insurer agrees to provide compensation or reimbursement for specific types of losses incurred by the policyholder. These are losses that meet the terms and conditions outlined in the insurance contract, meaning they fall within the coverage scope provided by the policy.

Insured losses signify that the risk associated with these losses has been transferred to the insurer, enabling the insured to receive financial protection as stipulated in their agreement. This creates a foundational role in insurance contracts where the responsibilities of compensation are clearly defined.

In regards to the other terms mentioned, "covered losses" generally refers to the specific types of losses described in the insurance policy, which can overlap with insured losses but doesn't encompass the full range of obligations an insurer has to indemnify. "Exempt losses" and "non-insurable losses" refer to losses that typically fall outside the scope of coverage provided by an insurance policy, meaning the insurer is not required to indemnify those losses.