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The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date.

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- References

No definition available.

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Amount, after effects of reinsurance, of payments to settle claims incurred in the current period and related claims settlement costs.

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Amount, after effects of reinsurance, of payments to settle claims incurred in prior periods and related claims settlement costs.

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Amount, after effects of reinsurance, of expense (reversal of expense) for claims incurred and costs incurred in the claim settlement process.

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No definition available.

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Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims.

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Amount, after effects of reinsurance, of payments to settle insured claims and pay costs incurred in the claims settlement process.

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Estimated amount after valuation allowance of reinsurance recoverables, due from reinsurers for incurred claims not yet reported, and claims settlement expenses.

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Amount, after effects of reinsurance, of expense for claims incurred in the current reporting period and related claims settlement costs.

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Amount, after effects of reinsurance, of expense (reversal of expense) for claims incurred in prior reporting periods and related claims settlement costs.