Reported and unreported insurance claims that have not been paid for a specific date.

Estimate of insurance claims that actually are incurred in a policy year plus the change of the claim reserves as of the end of the year. The change in reserves stands for the difference between the end-of-the-year and beginning-of-the-year claim reserves.

Total dollar amount of insurance claims within a specific period of time regardless of when those claims are reimbursed.
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Incurred claims equal the claims paid during the policy year plus the claim reserves as of the end of the policy year, minus the corresponding reserves as of the beginning of the policy year. The difference between the year end and beginning of the year claim reserves is called the increase in reserves and may be added directly to the paid claims to produce the incurred claims. Typically, incurred claim values include some expenses of paying claims such as those allocated to individual claims.

Proportion of the claims incurred to the premiums earned to establish the loss. This ratio is based on a formula by taking incurred claims added to expenses and divided by premiums.

Proportion of the annually incurred claims to the annually paid claims.