Insurance. occurrence of an event, as death or damage of property, for which the insurer makes indemnity under the terms of a policy.
14.
Electricity. a measure of the power lost in a system, as by conversion to heat, expressed as a relation between power input and power output, as the ratio of or difference between the two quantities.
O.E. los "loss, destruction," from P.Gmc. *lausam- (see lose). The modern word, however, probably evolved 14c. from lost, the original pp. of lose. Phrase at a loss (1592) originally refers to hounds losing the scent. To cut one's losses is from 1912.
jargon Something (not a person) that loses; a situation in which something is losing. Emphatic forms include "moby loss", and "total loss", "complete loss". Common interjections are "What a loss!" and "What a moby loss!" Note that "moby loss" is OK even though **"moby loser" is not used; applied to an abstract noun, moby is simply a magnifier, whereas when applied to a person it implies substance and has positive connotations. Compare lossage. (1995-04-19)