What Does Losses Incurred But Not Reported Mean?

Free Business Insurance Quote Click Here
What does Losses Incurred But Not Reported mean? Read on to discover the definition & meaning of the term Losses Incurred But Not Reported - to help you better understand the language used in insurance policies.

Losses Incurred But Not Reported

Losses Incurred But Not Reported

(IBNR) is an estimated amount set aside by the insurance company to pay claims that may have occurred, but for some reason have not yet been reported to the insurance company.

We hope the you have a better understanding of the meaning of Losses Incurred But Not Reported.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


Free Business Insurance Quote Click Here