Gross loss reserves

{
  "id": "MLC-T-INS-001664",
  "term": "Gross loss reserves",
  "field": "Insurance and risk management",
  "definition": "The total amount of money an insurer sets aside to cover future claims and claim-related expenses, before any recoveries from reinsurance are considered. These reserves include estimates for reported claims, claims incurred but not yet reported (IBNR), and claims in the process of settlement. They represent the insurer's total liability for unpaid claims.",
  "url": "https://mlchart.com/terminology/insurance/gross-loss-reserves/"
}