IBNR definition

IBNR means unpaid health claims incurred but not reported. The liability for IBNR claims is actuarially estimated based on the most current historical claims experience of previous payments, inflation, award trends, and estimates of health care trend changes.

IBNR means incurred but not reported reserves. It includes a reserve for claims that have been incurred, but not yet reported to the individual own risk employer or group self-insurance association, as applicable, and reserves for adverse loss development on known claims.

IBNR means incurred but not reported reserves. It includes a reserve for claims that have been incurred, but not yet reported to the individual own risk employer or group self-insurance association, as applicable, and reserves for adverse loss development on known claims. "Incurred loss" means the total of the paid indemnity and medical losses plus claims reserves, reported by accident year.

Examples of IBNR in a sentence

• The Fund consultants shall calculate the IBNR and lag month reserve requirement at least once every twelve (12) months beginning on (date) and report these amounts to the Trustees at their next regularly scheduled meeting.

• The parties recommend to the trustees that a Minimum Reserve Requirement be established equal to IBNR reserves plus a lag month reserve.

• The reserves for the Subject Business (including case reserves and IBNR) as included in the Data Room and the Ceding Companies’ most recent audited and unaudited statutory financial statements filed in their respective Domiciles were computed: (i) in all material respects in accordance with generally accepted actuarial standards, consistently applied, SAP, Applicable Law and the underlying Policies and (ii) based on the information available as of the Valuation Date.

More Definitions of IBNR

IBNR means estimated claims for Healthcare Services provided by the Company, which claims have been incurred but not reported.

IBNR means subjective reserves established for incurred but not reported claims, within a range proposed by an independent actuary, as determined by the Board of the Group in the Board’s reasonable discretion.

IBNR has the meaning set forth in the definition for the term Loss Reserves.

IBNR means incurred but not reported;

IBNR means reserves for claims incurred but not reported.

IBNR means Incurred But Not Reported reserves and has the meaning ascribed thereto by clause 14(1);

IBNR means incurred but not reported reserves. It includes a reserve for claims that have been