Experience developed on premium and incurred loss transactions occurring during the twelve calendar months beginning January: irrespective of the effective dates of the policies on which these transactions arose.
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MEDICAL,USA: Occurrence or events developed on premium and incurred loss transactions that occur during the 12 calendar months beginning January 1, regardless of the effective dates of the insurance policies on which these transactions arose.
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Underwriting result based on earned premiums and booked incurred losses for the same calendar year reporting period, regardless of the dates of the loss events. Booked incurred losses include paid losses, beginning of year to end of year changes in case reserves, and IBNR.