Losses Outstanding

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Losses Outstanding

In insurance, legitimate claims that an insurer has not paid to a policyholder.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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18, Demotech announced it had affirmed the Financial Stability Ratings (FSRs) of 51 of the 52 Florida-focused carriers it rates prior to the public release of their year-end financial statements, saying the companies had demonstrated to Demotech realistic estimates of gross and net loss and loss adjustment expense reserves related to claims arising from 2017's (https://www.insurancejournal.com/news/southeast/2018/08/21/498528.htm) Hurricane Irma and 2018's (https://www.insurancejournal.com/news/southeast/2018/11/20/509157.htm) Hurricane Michael and that their reinsurance was of "sufficient quality and quantity to expect reimbursement for outstanding losses and loss adjustment expenses..."
Fitch Ratings estimates an additional $6 billion of outstanding losses may be recovered from transactions securitized between 2005 and 2008.
Judge Martin Beddoe condemned Levene's "rank dishonesty" and added: "The outstanding losses of PS100 million speak for themselves."
By pursuing collateral reviews and scrutinizing outstanding losses, we cut $13 million in LOC obligations and saved another significant sum of money in bank fees associated with maintaining them.
The program also generates a range of reports, including detailed loss records for reinsurance, loss management reports that provide monthly paid and outstanding losses, and special claim reports.
According to the indictment, Kubota and the others submitted to the Finance Ministry's regional bureau a false financial statement for the fiscal year ended in March 1998 by posting outstanding losses 159.2 billion yen less than their real value.
Pridiyathorn said the bonds will help resolve outstanding losses of more than 1.4 trillion baht shouldered by the BOT's Financial Institutions Development Fund (FIDF) since the crisis.
The insured client will sell their outstanding losses to the carrier.
Outhwaite for reinsuring accounts that were far removed from the potential source of claims (in other words, for acting as a retrocessionaire) because in such a relationship "you were too far removed from the risks to make any kind of meaningful assessment of outstanding losses and loss reserves." This might seem to risk managers as comparable to primary insurers who rely on their insureds' assessment of their own exposures.
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