Loss run

A loss run is the claims history of a policy as the insurer's system reports it. Each line shows the date of loss, the claimant or a description, status, amounts paid (indemnity and expense), the reserve still held on open claims, and the total incurred. Runs come per carrier and per line, so a business with a separate general liability, auto and workers' comp carrier collects three.

Underwriters ask for them on nearly every submission, usually covering three to five years, and they want them recently valued, often within 60 to 90 days of the effective date. A loss run shows what was reported, not what is final. Reserves rise and fall, and a claim marked open may already have settled.

Read yours before an underwriter does. Look for claims on the wrong policy year, closed claims still showing a reserve, incidents reported "for information only" that were paid anyway, and claims that belong to someone else. Errors follow you at renewal through the loss ratio and, for comp, the experience modification rate. Request runs in writing well before the renewal date; some states set a deadline for carriers to respond, and it varies. The guide on loss runs and how to request them walks through the process.