Definition of "Losses incurred"

Song Hong real estate agent
Song Hong, Real Estate Agent Rebate Realty Usa

Important quantitative measure for an insurance company indicating the percentage of each premium dollar that is going to pay for losses. Based on losses incurred, appropriate reserves are established. Changes in incurred losses over several policy periods indicate the trend in the loss picture and the accuracy of the basic premium charged to reflect expected losses.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions