What does Reported Losses mean? Read on to discover the definition & meaning of the term Reported Losses - to help you better understand the language used in insurance policies.
Includes both expected payments for losses relating to insured events that have occurred and have been reported to the insurance company, but not yet paid.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Reported Losses. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: