Incurred losses means the sum of:
Incurred losses means total claims paid during the experience period, adjusted for the change in claim reserve.
Examples of Incurred losses in a sentence
Incurred losses are all amounts we pay or estimate we will pay for losses, interest on judgements, expenses to recover against third parties, and employers liability loss adjustment expenses.
Incurred losses shall include claims paid and the change in claim reserves and liabilities.
Incurred losses are reduced by estimated amounts recoverable under the Fund’s reinsurance policies.
Incurred losses on prior years’ claims - group health (Schedule H, Part 3, Line 3.1 Col.
Incurred losses used in the retrospective premium will be limited to five hundred thousand dollars per claim.
More Definitions of Incurred losses
Incurred losses means the sum of all:
Incurred losses means the sum of paid losses (indemnity and loss adjustment expenses) and reserves for unpaid losses.
Incurred losses means compensation payments and medical payments paid to date as well as open case reserves. The total incurred losses will not include surplus costs and will be limited on a per claim basis.
Incurred losses means total claims paid during the experience period, adjusted for the change in claim reserve. (Department of Insurance; 760 IAC 1-5.1-2; filed Sep 9, 2002, 3:00 p.m.: 26 IR 20, eff Jan 1, 2003; readopted filed Nov 24, 2009, 9:35 a.m.: 20091223-IR-760090791RFA)
Incurred losses means losses that are (1) paid losses, and (2) losses that are incurred but not yet reported to the insurance claimants.
Incurred losses means total claims and claim adjustment expenses paid during the experience period plus any change in claim and claim adjustment expense reserves.