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Loss reserve definition
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loss reserve
An estimate of the cost of claims incurred but not yet settled. The loss reserve includes IBNR, which allow for claims not reported to the insurer at the time the balance sheet is calculated.
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http://www.encyclo.co.uk/local/20197
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Synonyms
damage
death
demise
disadvantage
harm
injury
passing
passing away
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An estimate of the cost of claims incurred but not yet settled. The loss reserve includes IBNR, which allow for claims not reported to the insurer at the time the balance sheet is calculated.