Losses Paid

Losses Paid

In insurance, legitimate claims that an insurer has paid to a policyholder.
References in periodicals archive ?
The losses paid by the insurance fund and by CUNA Mutual are losses that are shared by all credit unions.
Just how much is a matter of debate, given the fact that there have been no terrorism losses paid under TRIA," he said.
It would extend the current program for an additional seven years while increasing the share of insured losses paid for by private insurance and directing the government to study the effects of premiums collected through the program.
The company has registered a drop in incurred loss ratio (ratio of losses paid and reserves to premiums earned), which stood at 83.
Should the insured be unable or unwilling to pay for the claims it has agreed to reimburse, as part of its large deductible program and as defined in its legal agreements with its carriers, the carriers are still obligated to respond to claims made and losses paid under its issued insurance policies.
Rating agency Moody's says second-quarter earnings among P&C carriers are likely to be pressured by losses paid on the May 20 tornado in Moore.
Agriculture Department reported indemnity losses paid by crop insurers in 2012 have topped $12.
Overall, weather has caused more than half the insured losses paid out by property and casualty insurers in the Lone Star State since 1999.
Schedule P--Part 3 reports cumulative losses paid at the end of a year.
WVMIC * Medicus (West Virginia, Only) (West Virginia, Only) Direct Premiums Written $32,677,159 $5,984,271 Direct Premiums Earned $35,287,909 $5,539,308 Direct Losses Paid Amount $19,681,125 $2,248,038 # Claims 143 8 Direct Losses Incurred $11,050,076 $6,930,431 Direct Losses Unpaid Amount $28,895,501 $3,094,000 # Claims 164 37 Direct Losses IBNR* $18,787,764 $4,907,350 *West Virginia Mutual Insurance Company * IBNR--Incurred But Not Reported Source: Supplement "A" To Schedule T, Exhibit of Medical Professional Liability Premiums Written Allocated by States & Territories Supplement to the 2011 Annual Statements of: The West Virginia Mutual Insurance Company and Medicus Insurance Company
Losses paid out for cotton and pasture and rangeland have already exceeded the level of total premiums paid in (farmer premiums paid plus the subsidy), while wheat is approaching that mark, corn is nearing the halfway point and soybeans are nearing a loss ratio of 40 percent.
With such a wide and unsustainable chasm between premiums collected and losses paid, the question remains whether sinkhole risk is simply uninsurable.