MLchartDataset catalogue

Claims reserve

Term · Insurance and risk management · MLC-T-INS-000763

An amount of money set aside by an insurance company to cover the estimated future cost of claims that have been reported but not yet paid, or claims that have occurred but not yet been reported. This financial provision accounts for potential liabilities arising from outstanding claims, including investigation expenses and legal fees. Actuaries calculate claims reserves based on historical data and statistical models to meet regulatory solvency requirements.

Table 1. Record
IdentifierMLC-T-INS-000763
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000763",
  "term": "Claims reserve",
  "field": "Insurance and risk management",
  "definition": "An amount of money set aside by an insurance company to cover the estimated future cost of claims that have been reported but not yet paid, or claims that have occurred but not yet been reported. This financial provision accounts for potential liabilities arising from outstanding claims, including investigation expenses and legal fees. Actuaries calculate claims reserves based on historical data and statistical models to meet regulatory solvency requirements.",
  "url": "https://mlchart.com/terminology/insurance/claims-reserve/"
}

Record 553 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.