Definition of "Calendar year accounting incurred losses"
Sunny Williams, Real Estate Agent
EXP Realty
Losses paid plus positive or negative changes in the year-end loss reserves during that particular year. The total amount includes payments for any old claims as well as new claims, plus any reevaluation of claim amounts already on the books at the beginning of the year, as well as required reserves for the new claims.
Have a question or comment? We're here to help.