Page 56 - Insurance Times August 2020

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limiting the time within which the insurer
has the legal right to void the contract
on grounds of material misrepres-
entation in the policy application.
View latest Webinars on
Incurred But Not Reported (IBNR)
(Pure IBNR) claims that have occurred Insurance and
but the insurer has not been notified of
them at the reporting date. Estimates
are established to book these claims. Risk Management
May include losses that have been
reported to the reporting entity but
have not yet been entered into the at
claims system or bulk provisions. Bulk
provisions are reserves included with www.rmaindia.org/webinar
other IBNR reserves to reflect
deficiencies in known case reserves. on Youtube
IBNR can sometimes include estimates
of incurred but Not Enough Reported
(IBNER).

56 The Insurance Times, August 2020