Loss Run

Loss Run

Business losses (as opposed to profits) that extend over two or more periods. For example, losses over two consecutive quarters may be considered a loss run.
References in periodicals archive ?
a provider of forms conversion technology for the property & casualty sector of the insurance industry has launched a new product, LossRunner F2X, that converts loss run forms (received via fax or email) into data.
In one case, a risk manager noted on the workers' comp loss run that there were seven carpal tunnel claims in a small branch office, all within a short period of time.
In this light, the very concept of a traditionally-designed loss run is thrown into question.
Ask your broker or agent to generate a 5-year loss run, and review all recorded professional and general losses.
The deficit was due to the pounds 11million loss run up by Rangers as manager Dick Advocaat went on a spending spree to strengthen his squad.
A review of reserves in the loss run can result in reductions.
IntelliRisk[R] is an online system that provides secure and easy access to claims information and reporting, and generates monthly payment and standard loss run reports.
AIG Claim Services RMIS' Web-based IntelliRisk[R] e-Services include: First Notice of Loss, providing online claim submission and tracking; IntelliRisk NetSource[R], offering real-time claim analysis and ad hoc reporting capability, "profiling" potentially high-cost claims and "alerting" users of key claim events; IntelliRisk NetData[R], for electronic loss run distribution; an online Medical Provider Listing; and IntelliRisk Wireless[R], providing access to a wide range of claims information on Web-enabled mobile devices.
Insurance companies' claim practices vary on this point, however, and the loss run is something that a client may not find in the claim file.
AIGCS RMIS' Web-based IntelliRisk[R] e-Services include first notice of loss, providing online claim submission/ tracking; IntelliRisk NetSource[R], offering real-time claim analysis and ad hoc reporting capability, "profiling" potentially high cost claims and "alerting" users of key claim events; IntelliRisk NetData[R], for electronic loss run distribution; an online medical provider listing, and IntelliRisk Wireless[R], providing access to claim information via P.
Most modern RMIS programs do more than simply produce a year-by-year loss run, broken down by coverage line.
Agents basically agreed that insurers should spend their development money on policy inquiry and loss run, but support for billing status and loss reporting varied by agency size.