Incurred loss definition

Incurred loss means the total of the paid indemnity and medical losses plus claims reserves, reported by accident year.

Incurred loss means a loss which has been reported to the university and for which the university may have liability.

Incurred loss means the amount of monies paid and reserved by PARSAC to investigate, defend and satisfy a demand or demands made against a Member Entity.

Examples of Incurred loss in a sentence

• Regulatory Risk Reserve: The regulatory risk reserves warehouses the difference between the impairment balance on loans and advances as determined in accordance with the provisions of Prudential guidelines of Central Bank of Nigeria as opposed to the requirement of IAS 39 Incurred loss model.

• Experience from inception for each calendar year and, where appropriate, each policy year must be displayed, including the following information: (1) Year (2) Collected premium (3) Earned premium (4) Paid claims (5) Paid loss ratio (6) Change in claim liability and reserve (7) Incurred claims (8) Incurred loss ratio (9) Expected incurred claims (10) Actual-to-expected claims (11) Active Life Reserves For future years, columns (3), (7), and (8) must be displayed.

• Incurred loss and loss adjustment expenses attributable to insured events of prior years decreased by $19.9 million and $7.9 million for the six months ended June 30, 2019 and 2018, respectively, as a result of re-estimation of unpaid losses and loss adjustment expenses.

• The following new or revised standards applicable to the Bank were adopted in 2005:• The fair value option• Incurred loss provisioning• Employee benefits• Investments in Associate Prior to the introduction of Fair Value Option (FVO) into IAS 39, all derivatives were required to be reported at fair value while the host contract (for example the borrowings) to which they relate were reported at cost, thereby introducing accounting mismatch.

• Incurred loss and loss adjustment expenses attributable to insured events of prior years increased by $2.4 million and decreased by $13.3 million for the three months ended March 31, 2020 and 2019, respectively, as a result of re-estimation of unpaid losses and loss adjustment expenses.

More Definitions of Incurred loss

Incurred loss as used herein shall mean the Company's ceded ultimate net loss plus the Company's ceded outstanding loss and loss adjustment expense reserves (including all case reserves plus any reasonable amount estimated to be unreported from known loss occurrences as established by the Company).

Incurred loss means “incurred claims,” as defined in 3A (8).

Incurred loss means, for each Underwriting Year, all paid and outstanding Loss incurred by the Company plus IBNR in respect of Covered Business written during such Underwriting Year, in each case net of All Ceded Reinsurance.

Incurred loss as used herein shall mean the Company’s ceded ultimate net loss plus the Company’s ceded outstanding loss and loss adjustment expense reserves (including all case reserves plus any reasonable amount estimated to be unreported from known loss occurrences as established by the Company).

Incurred loss means the amount of monies paid and reserved by

Incurred loss means the total amount we have paid and have reserved for payment as damages or benefits because of an occurrence, accident, claim or suit, and all the Allocated Loss Adjustment Expenses we incur in connection therewith under a policy described in PART II, including reserves for occurrences, accidents, claims or suits that have happened but have not been reported to us and for statistically expected loss development on claims that have been reported to us.

Incurred loss means Losses plus Loss Adjustment Expenses paid by the Company, less salvages and recoveries.