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

• Liabilities include an amount for claims that have been incurred but not reported (IBNR).

• The primary technique adopted by management in estimating the cost of notified and IBNR claims, is that of using the past claims settlement trends to predict future claims settlement trends.

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

• The liability for these contracts comprises a provision for incurred but not reported (IBNR) and a provision for reported claims not yet paid (outstanding claims) at the reporting date.

• The provision for claims incurred but not reported (IBNR) is an estimation of claims which are expected to be reported subsequent to the date of statement of financial position, for which the insured event has occurred prior to the date of statement of financial position.

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 reserves for claims incurred but not reported.

IBNR means incurred but not reported claims.

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