Home > Glossary

Incurred Loss Retro

Incurred Loss Retro

Definition

An insurance risk financing plan under which the insured pays a premium based on actual loss experience incurred during the policy period. The premium adjustments made over the life of the plan are based on incurred losses, which takes into consideration the outstanding reserves and expenses of the claims in addition to the actual paid indemnity and medical costs.

Related Products

Navigation

Social Media

User ID: Subscriber Status:Free