What is Loss Run?
Insurance glossary entry on BeCovered.ai for the term "Loss Run": Carrier report listing claims history on a policy or account over a period. Scope: plain-language meaning for coverage discussions; confirm definitions on your policy forms.
Carrier report listing claims history on a policy or account over a period.
Understanding Loss Run
Loss runs drive underwriting for renewals and new business. Late-reporting or reserve changes can alter perceived frequency/severity. Businesses should request annually.
Examples
- GL renewal requires 5-year loss run from incumbent carrier.
- Auto insurer requests clue report analog for pricing—similar purpose.
Common Questions About Loss Run
Zero claims loss run still useful?
Yes—proves clean history and continuity for contracts and shopping.
Incorrect loss run fix?
Contact carrier loss reporting unit with claim numbers; persist until letter corrected.
Related Insurance Types
Related Terms
Claim
A formal request to your insurance company for payment or coverage for a loss or policy event.
Premium
The amount you pay to your insurance company for your coverage, typically monthly or annually.
Exclusion
Specific situations, conditions, or types of damage that your insurance policy does not cover.
Policy Term
The start and end dates during which your insurance contract is in force.