Losses Paid

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Losses Paid

In insurance, legitimate claims that an insurer has paid to a policyholder.
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References in periodicals archive ?
Still, severity (paid losses 12 months after inception divided by closed claims as of 12 months) continues to grow, driven by increased litigation and rising repair costs for repairs related to safety enhancements.
California had long been a good bet for homeowners' insurers, with most carriers having no problem recouping paid losses through premiums.
Private self-insured employers reported a total of $238.6 million in paid losses on 2018 claims through the end of the year, which was $19 9 million more than the comparable payout for 2017 claims, as total indemnity payments in the initial reports were $12.1 million higher and total medical payments were up by $7.8 million, according to CWCI.
As of year-end 2017, the industry had funded approximately $130 billion or 89% of A&E exposure through a combination of paid losses and loss reserves.
The retrocession will apply to losses arising and/or claims made on or prior to June 30, 2018, and loss reserves assumed will be subject to adjustment for paid losses since such date.
Those paid losses exceeded the minimum threshold for the NFIP's reinsurance coverage.
We use [X.sub.nlij] to denote the incremental paid losses in the ith (i = 1, ***, I) accident year and the jth (j = 1, ***, J) valuation time for the l th business line of the nth insurer.
To quantify the potential impact, the CWCI research determined that paid losses on claims with the obesity co-morbidity averaged $116,437, or 81.3 percent more than those without; and that these claims averaged nearly 35 weeks of lost time, or 80 percent more than the 19-week average for claims without the obesity co-morbidity.
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]8.5million.