Incurred Losses: Incurred Losses refer to the total amount of…

Treaty: A Treaty is a type of reinsurance agreement that…

Underwriting year: The underwriting year refers to the duration of…

Occurrence Policy: An occurrence policy is a type of liability…

Claims – made Policy: A claims – made policy is…

Claims – Paid Policy: A claims made policy is a…

Outstanding Loss Reserves(OSLR)-Assumed: Outstanding Loss Reserves and also known as…

Loss Adjustment Expenses (LAE) are expenses directly related to a…

Incurred But Not Reported(IBNR) –Assumed: An estimate of the amount…