MLchartDataset catalogue

Incurred expense

Term · Insurance and risk management · MLC-T-INS-001790

An expense that has been sustained or obligated, whether or not it has been paid. In insurance, this includes costs associated with claims, underwriting, and administration that have been recognized as liabilities. It is recorded in the accounting period in which it arises, regardless of the cash outflow date.

Table 1. Record
IdentifierMLC-T-INS-001790
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001790",
  "term": "Incurred expense",
  "field": "Insurance and risk management",
  "definition": "An expense that has been sustained or obligated, whether or not it has been paid. In insurance, this includes costs associated with claims, underwriting, and administration that have been recognized as liabilities. It is recorded in the accounting period in which it arises, regardless of the cash outflow date.",
  "url": "https://mlchart.com/terminology/insurance/incurred-expense/"
}

Record 1,724 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.