What does Schedule P Reserve mean? Read on to discover the definition & meaning of the term Schedule P Reserve - to help you better understand the language used in insurance policies.
Schedule P Reserve
A liability loss reserve relating to the business written by a property-casualty (P&C) insurer that must be shown on Schedule P of the convention blanks required by the National Association of Insurance Commissioners (NAIC). The purpose of the reserve is to allow for an evaluation of the financial strength of the insurer over a period of time as losses develop relative to earned premium.
We hope the you have a better understanding of the meaning of Schedule P Reserve.