Incurred Loss Definition - P&C Insurance - Paid, Case, IBNR, Ultimate Loss - Actuarial 101

This video defines and describes incurred loss, a common term used in P&C insurance. We explore how incurred loss is related to other loss types, such as paid loss, case reserves, IBNR (incurred but not reported), and ALAE (allocated loss adjustment expense).

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Disclaimer: Information presented in this video should not be relied upon as actuarial or accounting advice, which should be provided by a credentialed actuary or accountant familiar with the details of your organization's risk management program.