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The Insurance Times
period, regardless of when the claims are reported.
Operating Income
The sum of the new investment income and net underwriting
income in any reporting period.
Overhead
Fixed charges which do not vary with the amount of business
done.
Paid Loss
The amount of money paid on covered claims to claimants,
through a particular point in time.
Paid Loss
The sum of losses for which money has been disbursed as
opposed to losses incurred, which includes losses outstanding
but still unpaid.
Payback Period
The period of time required for the premium to equal a single
total loss, for the underwriter to be made whole; a term
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