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

• Note 25 - Changes in Incurred Losses and Loss Adjustment Expenses Incurred loss and loss adjustment expense attributable to insured events on prior years decreased slightly through the fourth quarter of 2014.

• It should be noted, GGC’s FY21 $2,000,000 request is still pending.

• Note 25 - Changes in Incurred Losses and Loss Adjustment Expenses Incurred loss and loss adjustment expense attributable to insured events on prior years has decreased through the fourth quarter of 2012.

• 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 reserves for the years ended December 31, 2006 and 2005 related primarily to obligations impacted by Hurricane Katrina.

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 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.

Incurred loss means an operational loss after the event has occurred.