long-tail liability
Long-tail liability is the liability for claims that do not proceed to final settlement until a length of time beyond the policy year.
long-tail liability
Long-tail liability is the liability for claims that do not proceed to final settlement until a length of time beyond the policy year.
Additional Information
High incurred but not reported (IBNR) claims contribute to this "tail" effect, since these losses are usually not settled until several years after the expiration of the policy in question.
