Detailed Loss Runs

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What is a loss run? 

“Loss Run” is an insurance term referring to a report provided by the insurance carrier which provides a policyholder their claims history.


How do I get my company’s loss runs?

Loss Runs can be obtained through your agent.


Why should I review loss runs with my agent?

Here are some reasons why it is important to review a loss run report with your agent.

To ensure that all the information on the loss run is correct.  A loss run provides detailed claims information such as: the name of the claimant, the type of injury, illness or fatality, the amount of money reserved for the claim, a brief description of the loss, whether the claim is still open, and whether the claim has been litigated. As a business owner, you should be able to identify every claim and injured employee on the report. The frequency and severity of your claims will be factored into your Experience Modification Rate, sometimes referred to as XMod, which is one of the components used to determine your future premium. Incorrect information and claims that are not valid could potentially affect your premium. If you find an error – or worse, see something you don’t recognize – immediately contact your agent or our claims department so they can investigate.

To recognize trends. In addition to providing the current status of each individual claim, loss run reports are even more useful for spotting trends.  A loss run will break your claims down by location, type and cause of injury, day of the week, time of day, time to report, and cost per claim. This analysis can help you evaluate trends and identify areas for improvement. For example, employers with multiple locations might pick up on a greater propensity for injuries at one facility over another. Another pattern that might be identified is the frequency of claims by specific individuals. This information can help business owners and agents discuss steps to foster a culture of safety and reduce the likelihood of future claims.

What are reserves?

If you have open claims, you may see a column called reserves or medical reserves on your loss run report. The amount held in reserve for each claim is how much money was set aside by the insurer to cover the anticipated costs of obligations associated with the claim. It is calculated by assessing the likely medical, indemnity and other expenses of each injury or illness. Insurance carriers try to calculate the expected costs of a claim as accurately as possible.  However, the reserve amount could potentially be higher or lower than what ultimately gets paid out.