Losses Paid

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Losses Paid

In insurance, legitimate claims that an insurer has paid to a policyholder.
References in periodicals archive ?
Those paid losses exceeded the minimum threshold for the NFIP's reinsurance coverage.
Paid losses relative to DPE for packaged coverages increased from 15.
This indicates that insurance companies are experiencing a decrease in paid losses and retaining more profit.
To quantify the potential impact, the CWCI research determined that paid losses on claims with the obesity co-morbidity averaged $116,437, or 81.
Bill also gave the lender a [euro]5million apartment block beside the hotel "as security" and paid losses from previous years of [euro]2million - but claims he's still being told he owes [euro]8.
Paid losses remained consistently high over the past 5 years, averaging over $3 billion a year for asbestos and just under $1 billion a year for environmental
Typically, insurers collect a small escrow loss-development fund to cover expected paid losses during the first month of operations.
This report, which we initiated under the authority of the Comptroller General, examines (1) the impact of Hurricanes Katrina and Rita on the NFIP and paid losses by location and property type; (2) the challenges the Federal Emergency Management Agency (FEMA) and others faced in addressing the needs of NFIP claimants and communities; (3) FEMA's methods of monitoring and overseeing claims adjustments; and (4) FEMA's efforts to meet the requirements of the Flood Insurance Reform Act of 2004 to establish policyholder coverage notifications, an appeals process for claimants, and education and training requirements for agents.
During renewals the insurer will also use actuarial studies to look at incurred losses, paid losses and its loss reserves, and apply what's known as the loss development factor, or LDF, which corrects errors in estimating loss reserves and projects the additional expected costs for a group of claims.
The companies' gross written premiums (premiums collected in a given year) increased about 134 percent, while gross paid losses (what is paid out in claims) rose less than 10 percent.
2d 994 (1995)], the court applied the principle to insurance by stating: "Subrogation is the principle by which an insurer, having paid losses of its insured, is placed in the position of its insured so that it may recover from the third party legally responsible for the loss.
Annual paid losses and incurred losses for the national medical malpractice insurance market began to rise in 1998.