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Unreported claims

See: incurred but not reported (IBNR) .
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A reserve kept to pay claims that have taken place but have not yet been reported. The amount of this reserve is based on estimates.
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UK: See: IBNR FOR CLAIMS INCURRED BUT NOT YET REPORTED.

Unroadworthy

Means not fit for the road. The term is not confined to soundness of the vehicle. Packing eight people into a Ford Anglia made it unroadworthy (Clarke v. National Insurance & Guarantee Corporation Ltd (1963)).

Unsafe

A term used in schedule rating to describe a condition for which a penalty is applies, and which can usually be corrected. With the removal of the charge and condition there is a reduction of the Insurance rate.

Unsatisfied court judgments

An award of damages to an individual that remains unpaid. An employers’ liability policy pays for unsatisfied court judgments awarded against third parties in favour of employees injured in circumstances to which the ployers’ liability policy would have applied had the employer been the party liable. The insurer will pay the damages if they are unsatisfied six months after judgment provided no appeal is outstanding. It is a condition that the employee’s rights are assigned to the insurer. See REVERSE LIABILITY.