Incurred loss ratio

{
  "id": "MLC-T-INS-001791",
  "term": "Incurred loss ratio",
  "field": "Insurance and risk management",
  "definition": "The ratio of incurred losses to earned premiums over a specific period, expressed as a percentage. Incurred losses include both paid losses and changes in loss reserves for reported and unreported claims. This metric indicates the proportion of premium revenue used to cover claims and is a key measure of underwriting profitability.",
  "url": "https://mlchart.com/terminology/insurance/incurred-loss-ratio/"
}