Periodic report that lists accidental losses or claims incurred by an organization. Usually prepared in computerized form, a loss run shows each claim or loss number, date of loss, status (open or closed), claimant: description of loss, value of incurred loss. Loss reserve, and other information designed to analyze or to prevent such losses in the future.

A company produced statement of what losses have been filed for a particular insurance policy during a particular time period. Such information may or may not include information on reserves and loss adjustment costs. Typically provision of such information is mandated by state law.

This is a system of loss settlement used when damaged goods are landed at an intermediate port, usually a port of distress, and it is found necessary to sell the goods at this port in order to prevent the goods becoming a total loss or suffering further damages. In such circumstances, the Insurers agree that the goods be sold and the insured is allowed to retain the sale proceeds less the sale charges and survey fee. The claim amount paid is the difference between the sum insured and the amount retained by the insured. Such loss settlements are effected in exceptional circumstances when goods are landed in damaged condition short of destination. This method of settlement is never adopted when loss is assessed at destination.

Potential size of future losses.
***
The amount of a loss in financial terms.
***
The cost of the loss often combined with loss frequency. Some losses occur frequently and are less severe, while some losses occur rarely but are more severe. Fender benders have high frequency and low severity, while 9.0 magnitude earthquakes have low frequency but high severity.

A method to modify developed losses for changes that will occur in the future. Trend factors are used by rate makers to adjust past losses to more accurately reflect the loss experience expected to develop while the rates are being used.
***
Use of past loss frequency and loss severity data to project future expected losses. Techniques for loss trending include use of mathematical averages through loss ration trending weighted averages, inflationary indices and loss development factors.

Used to show how losses develop, a loss triangle is a chart that lists losses by line and by year. It shows the value of each set of annual losses at the end of subsequent 12-month periods.

Synonym for ‘Accident year statistics.’

The loss a sole proprietor, a partnership, or a close corporation may suffer because the death or disability of one of the owners cause the firm to go out of business.

Payments made to the insured person to help replace income lost through disability.