What does Reporting Lag mean? Read on to discover the definition & meaning of the term Reporting Lag - to help you better understand the language used in insurance policies.
The span of time between the occurrence of a claim and the date it is first reported to the insurer.
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 Reporting Lag. 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: