Losses Paid

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Losses Paid

In insurance, legitimate claims that an insurer has paid to a policyholder.
References in periodicals archive ?
A&E loss payouts increased 12%, driven by Berkshire Hathaway, which saw a negative $390 million 2012 paid loss swing to a positive $156 million paid loss in 2013 (see Exhibit 2).
If the ultimate was, in fact, $1 million, then I would expect somewhere around $200,000 of paid loss at the end of the year, 20 percent of $1 million.
Furthermore, there is a prevailing--if not mistaken--belief that although paid loss performance accounts for some 85 percent of the total claims cost, it cannot be quantified.
It was so generous of his firm Elan to give him the time off, but this game should have been played on Sunday not on a Wednesday when I had two lads doing exams and others who had to be paid loss of wages.
While there are numerous types of retros, the two most common are the paid loss retro and the incurred loss retro.
Note: Assumed loss payout rates calculated with industry paid loss data for 1980-89 for accidents in 1980.
The program highlights include paid loss deductible; limits of $1 million per occurrence / $5 million aggregate; admitted coverage and ISO based product; no minimum loss pick and no minimum premium limit; bundled claim service; and in addition, offers Gleason ESP([R]), a state-of-the-art electronic floor monitoring program; grocery-specific Web-based safety training; and loss control services.
It specifically allows users to evaluate and compare guaranteed cost, incurred loss retro, paid loss retro, investment loss retro, and large deductible plans.
While retrospectively rated insurance programs (retros) have been in existence for some 60 years, paid loss retros were first introduced in the late 1970s and steadily grew in popularity throughout most of the next decade.
The national account business portfolio also was replete with loss sensitive programs and alternative risk transfer mechanisms, including self-insured retention programs, deductible programs, captive programs, paid loss retrospective programs, incurred loss retrospective programs, banking excess plans and fronting programs.
Conversely, in the case of a paid loss plan loss experience is only considered as it is paid.