Expert Commentary: When Does "Incurred" Mean "Incurred" for Insurance and Reinsurance Purposes? -

    30 June 2012

    How losses, expenses, and other obligations are "incurred" is critical to the proper operation of the insurance or reinsurance contract. This includes proper reporting of loss and expense information and, of course, the proper billing and recovery of legitimate losses and expenses under the reinsurance contract. So what does "incurred" really mean in the context of insurance and reinsurance?

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