Incurred but not Reported Losses

(redirected from Incurred but not Reported Loss)

Incurred but not Reported Losses

A claim that an insurer has not yet paid. Incurred but not reported losses do not show up in the insurer's expenditures because of the non-payment. However, they do form part of the insurer's liabilities.
References in periodicals archive ?
Loss Reserves: Liability established to pay anticipated claims costs and expenses associated with settling claims, including a provision for incurred but not reported losses.
Losses and Loss-Adjustment Expenses: This represents the total reserves for unpaid losses and loss-adjustment expenses, including reserves for any incurred but not reported losses, and supplemental reserves established by the company.