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Loss Run
An insurance claims-history report showing claims recorded for the policyholder and policies included in its scope.
A loss run is an insurance claims-history report available from an insurer or agent. It can identify the policyholder and policy, claim dates and descriptions, open or closed status, reported losses, and settlement costs. Open claims may also show reserves.
Read the reporting date, policies, and claim periods covered before interpreting the history. A reserve is an amount the insurer sets aside for an open claim; the final cost can differ. An internal incident report records an event, while a loss run reflects insurance claim activity within its stated scope.
Source: The Hartford, What Are Insurance Loss Runs?, Report Contents and Reserves.
Frequently Asked Questions
Is an open-claim reserve the same as the final settlement?
No. A reserve is money set aside for the claim. Its final cost may be higher or lower than that amount.
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