Incurred loss retro

Term · Insurance and risk management · MLC-T-INS-001792

A type of retrospective rating plan where the final premium adjustment is based on the actual incurred losses of the policyholder during the policy period, rather than paid losses. This method considers both paid claims and outstanding reserves for reported but unpaid claims. It provides a more immediate reflection of the policyholder's loss experience compared to paid loss retro plans.

Table 1. Record
Identifier	MLC-T-INS-001792
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001792",
  "term": "Incurred loss retro",
  "field": "Insurance and risk management",
  "definition": "A type of retrospective rating plan where the final premium adjustment is based on the actual incurred losses of the policyholder during the policy period, rather than paid losses. This method considers both paid claims and outstanding reserves for reported but unpaid claims. It provides a more immediate reflection of the policyholder's loss experience compared to paid loss retro plans.",
  "url": "https://mlchart.com/terminology/insurance/incurred-loss-retro/"
}

Record 1,708 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.