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ULAEUniversal Limited Art Editions (fine art print publisher)
ULAEUnallocated Loss Adjustment Expense
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Unallocated loss adjustment expenses are operating expenses not identified by a claim file, but functionally associated with settling losses, such as salaries of claims departments.
In this exhibit, loss and loss adjustment expense amounts include all loss adjustment expenses, both allocated and unallocated, because the calendar year summarized data includes unallocated loss adjustment expenses. The important observation to make from Exhibit 3 is that during calendar year 1997, $2.2 billion of reserves from prior years were released.