Claims incurred means a claim for which the insurer has become obligated to make payment, on or prior to the valuation date.
Claims incurred means the aggregate of all claims paid during an accounting period adjusted by the change in claims reserved for that accounting period together with: (i) the related loss adjustment expense, and (ii) expenses of claims handling customarily recognized by the Canadian Borrower in its calculation of Claims Ratio in its quarterly reporting.
Claims incurred means claims actually paid during the year, plus any estimated reserves at the end of the year for reported claims in the process of settlement, and reserves for unreported claims, and less any estimated reserves at the end of the preceding year for reported claims in the process of settlement and for unreported claims.
Examples of Claims incurred in a sentence
Claims incurred during a fiscal year but not reported during that fiscal year shall be paid from such funds as shall be appropriated by law.
Claims incurred prior to Your Service Agreement start date are not covered.
Claims incurred comprise claims and related expenses paid in the year and changes in the provisions for outstanding claims, including provisions for claims incurred but not reported and related expenses, together with any other adjustments to claims from previous years.
The shift commander confirmed flammable, toxic, and caustic materials are stored in the janitor closet under lock and key and are only accessible to supervisory staff.
Claims incurred but not reported are included in payables and expenses.
More Definitions of Claims incurred
Claims incurred means claims paid in respect of the Relevant Liabilities less reinsurance recoveries received in respect of the Relevant Liabilities in the relevant Accounting Period plus any increase (or minus any decrease) over such Accounting Period in the provision for claims. For these purposes, such provision for claims shall be calculated, at the beginning and end of each Accounting Period, net of any available credit for reinsurance, not being a credit in respect of any reinsurance claim which is due but unpaid, and otherwise in accordance with the manner in which such provision for claims would be calculated for the purposes of item II.5(b) of the Statutory Format;
Claims incurred means, except with respect to Workers’ Compensation Claims Incurred, those claims that are deemed incurred pursuant to the following: (a) with respect to medical (including continuous hospitalization), dental, vision and/or prescription drug benefits, upon the rendering of health services giving rise to such claim or expense; (b) with respect to life, accidental death and dismemberment and business travel insurance, upon the occurrence of the event giving rise to such claim or expense; (c) with respect to long-term disability and long term care benefits, upon the date of an individual’s disability, as determined by the disability benefit insurance carrier or claim administrator, giving rise to such claim or expense; and (d) with respect to any other claim, upon the date of the event giving rise to such claim.
Claims incurred means that portion of a claim for which the insurer has become obligated to make payment, on or prior to the valu- ation date.
Claims incurred means claim payments plus Claims Reserves at the end of the period under investigation minus Claims Reserves at the beginning of the period under investigation;
Claims incurred means those claims that are deemed incurred pursuant to the following: (a) with respect to medical (including continuous hospitalization), dental, vision and/or prescription drug benefits, upon the rendering of health services giving rise to such claim or expense; (b) with respect to life, accidental death and dismemberment and business travel insurance, upon the occurrence of the event giving rise to such claim or expense; (c) with respect to long-term disability and long term care benefits, upon the date of an individual’s disability, as determined by the disability benefit insurance carrier or claim administrator, giving rise to such claim or expense; and (d) with respect to any other claim, upon the date of the event giving rise to such claim.
Claims incurred means a claim for benefits made by an Acquired Employee or their respective Dependents under the applicable Employee Benefit Plan, which claim shall be considered incurred when the services (medical or dental) are rendered or supplies (medical, dental, pharmaceutical) are provided, and not when the condition to which the claim may relate first arose; provided, however, that in the event of an Acquired Employee’s or Dependents’ death or disability, any claim for benefits shall be deemed to be incurred as of the date of the Acquired Employee’s or Dependents’ death or disability, as applicable.
Claims incurred means claims paid in respect of the Relevant Liabilities less reinsurance recoveries received in respect of the Relevant Liabilities in the relevant Accounting Period plus any increase (or minus any decrease) over such Accounting Period in the provision for claims. For these purposes, such provision for claims shall be calculated, at the beginning and end of each Accounting Period, net of any available credit for reinsurance, not being a credit in respect of any reinsurance claim which is due but unpaid, and otherwise in accordance with the manner in which such provision for claims would be calculated for the purposes of item I.4(b) of paragraph 12 of Schedule 9A of the Companies Xxx 0000;