Losses Paid

Losses Paid

In insurance, legitimate claims that an insurer has paid to a policyholder.
References in periodicals archive ?
"Each LIC gives the investor the right to a share of premiums received and the responsibility to cover a share of losses paid under the corresponding reinsurance contract," explained Will Dove, Extrarordinary Re's chairman and CEO.
As of September 30, 1908, each servicing carrier will prepare a statement of operations showing the premiums written and losses paid and incurred, and this Department will arrange for a settlement of the accounts as rendered following the percent ages developed in paragraph 12.
Of the current reported insured losses paid by the top-15 property writers in California, over 94% have been for residential property.
Statistics indicate losses paid out by the insurance companies for dietary supplements originate predominately from three categories: weight loss, sports nutrition, and sexual enhancement products.
Power sector losses paid out of the federal budget in Pakistan have come down from Rs342 billion in fiscal year2012-13 and Rs138 billion in 2013-14 to zero in next two years, 2014 and 2015 and 2015-16.
The Power sector losses paid out of the Federal Budget has come down from 342 billion in 2012-13 to zero since last two years i.e.
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 83.5% from 85.49% due to better underwriting and claims management.
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.