MLchartDataset catalogue

Loss reserve

Term · Insurance and risk management · MLC-T-INS-002089

An estimate of the liability an insurer has for claims that have been reported but not yet settled (RBNS) and for claims that have been incurred but not yet reported (IBNR). These reserves are recorded as a liability on the insurer's balance sheet, representing the total amount the company expects to pay for future claims on policies already written. Actuaries use statistical methods like the chain-ladder method to calculate the appropriate reserve levels.

Table 1. Record
IdentifierMLC-T-INS-002089
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002089",
  "term": "Loss reserve",
  "field": "Insurance and risk management",
  "definition": "An estimate of the liability an insurer has for claims that have been reported but not yet settled (RBNS) and for claims that have been incurred but not yet reported (IBNR). These reserves are recorded as a liability on the insurer's balance sheet, representing the total amount the company expects to pay for future claims on policies already written. Actuaries use statistical methods like the chain-ladder method to calculate the appropriate reserve levels.",
  "url": "https://mlchart.com/terminology/insurance/loss-reserve/"
}

Record 2,045 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.