What does incurred but not reported mean?
Definitions for incurred but not reported
in·curred but not re·port·ed
This dictionary definitions page includes all the possible meanings, example usage and translations of the word incurred but not reported.
Wikipedia
Incurred but not reported
In insurance, incurred but not reported (IBNR) claims is the amount owed by an insurer to all valid claimants who have had a covered loss but have not yet reported it. Since the insurer knows neither how many of these losses have occurred, nor the severity of each loss, IBNR is necessarily an estimate. The sum of IBNR losses plus reported losses yields an estimate of the total eventual liabilities the insurer will cover, known as ultimate losses.
Numerology
Chaldean Numerology
The numerical value of incurred but not reported in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of incurred but not reported in Pythagorean Numerology is: 6
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"incurred but not reported." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/incurred+but+not+reported>.
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