Page 55 - Insurance Times November 2021

Poll Do you think margers will help industry to
Glossary

consolidate?

Yes Results of Poll in our October 2021 Issue

No Do you think LIC IPO will change market
dynamics?
Can’t say

You may send your views to :
Poll Contest, The Insurance Times Yes 80
Loss Payable Clause 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 20
Coverage for third party mortgagee in Phone : 2269 6035, 2218 4184, 4007 8428 Can’t say 00
case of default on insured property, Email: insurance.kolkata@gmail.com
secured by a loan, that has been lost or
damaged. Subscribe
Loss Ratio
The percentage of incurred losses to our
earned premiums.
Loss Reserve YouTube Channel
The amount that insurers set aside to
cover claims incurred but not yet paid.
Loss Reserves www.youtube/bimabazaar
An estimate of liability or provision in an
insurer's financial statement, indicating for latest updates
the amount the insurer expects to pay for
losses incurred but not yet reported or
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reported claims that haven't been paid.
Losses Incurred
Includes claims that have been paid and/
or have amounts held in reserve for www.facebook.com/bimabazaar
future payment.

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The Insurance Times, November 2021 55