Unpaid claims definition

Unpaid claims means the obligations for future payment re- sulting from claims due to past events. This liability includes loss and adjustments expenses, incurred but not reported claims (IBNR), case reserves, and unallocated loss adjustment expenses (ULAE).

Unpaid claims means the obligations for future payment resulting from claims due to past events. This liabil- ity includes loss and adjustments expenses, incurred but not reported claims (IBNR), case reserves, and unallocated loss adjustment expenses (ULAE).

Unpaid claims or “UNPAID LOSSES” means case reserves and reserves for incurred but not reported claims attributed to the Fund net of any recoverable per occurrence or aggregate excess insurance or reinsurance for a particular year.

Examples of Unpaid claims in a sentence

• Unpaid claims liabilities are material estimates that are particularly susceptible to changes in the near term.

• Unpaid claims will incur interest at a floating rate of interest equal to the prime rate published from time to time in The Wall Street Journal.

• Unpaid claims and loss adjustment expenses are discounted to take into account the time value of money.

• Unpaid claims and claimsadjustment costs:UndiscountedTime Valueof MoneyDiscounted(before PFAD)PFADDiscounted$000sAs at December 31, 2017 150,046 (6,439) 143,607 13,026 156,633As at December 31, 2016180,180(5,234)174,94617,307192,253As at December 31, 2017, the interest rate used to determine the time value of money was 1.75% and reflected the market yield (December 31, 2016 – 1.0%).

• Unpaid claims at fiscal year end, as reported by the fund, were not material.

More Definitions of Unpaid claims

Unpaid claims means the obligations for future pay- ment resulting from claims due to past events. This liability includes loss, loss adjustments expenses, incurred but not reported claims (IBNR), case reserves, and unallocated loss adjustment expenses (ULAE).

Unpaid claims means case reserves and reserves for incurred but not reported (IBNR) claims attributed to the Fund net of any per Occurrence or aggregate excess insurance or reinsurance for a particular coverage or Fund Year.

Unpaid claims means claims incurred but not yet paid;

Unpaid claims or “Unpaid losses” means case reserves and reserves for Incurred But Not Reported (IBNR) claims attributed to the joint insurance fund net of any recoverable per occurrence or aggregate excess insurance or reinsurance for a particular joint insurance fund year.

Unpaid claims refers to all claims with a date of death prior to recapture). THE REINSURER will not pay any amount representing reserve held on the business. If THE COMPANY does not provide the 30-day written notice of its desire to recapture following the notice received from THE REINSURER, this absence shall constitute acceptance of the rate change effective with each policy next anniversary. If THE COMPANY changes its charges to the customer, THE REINSURER has the right to change its rates. However if THE REINSURER's change in rates is not proportionate to THE COMPANY's change, then THE COMPANY may recapture the reinsurance under Section 20 of this Agreement.

Unpaid claims. Except as reflected in the financial statement in Exhibit "2" there. were, as of the date of such balance sheet, no unpaid claims or other obligations due or owed with respect to any insurance policy or underwriting contract issued or reinsured by such company other than unreported claims and claims in process incurred in the ordinary course of business consistent with the past practice of such company.

Unpaid claims means the obligations for future payment