What is a Loss? Loss[los]noun1.A Loss is an injury or damage that is covered by an insurance Policy. Losses can be partial, like when wind damages part of a roof, or total, as when an automobile is “totaled” in a collision. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Forecast Life is as unpredictable as the weather. We’d love to help you prepare. Directors and Officers Liability Insurance Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making. Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.