Loss Run Summary

Reporting period:  User defined on report control - Lossrun reports are typically run for several injury years. 

Report valued as of: 

• 1. By default lossrun reports show claim values as of the date the report is run. 

  2. Example: If the report is being run on 05/21/2001 at 12:01pm all claim values shown on the reports include all transactions entered into the system up to 05/21/2001 at 12:01pm.

  3.  

  4. It is possible to create lossrun reports valued for some time in the past using the generate lossrun data option on the Lossrun menu and selecting "Use Data Valued as of ..." on the report control.

  5. Example: If the report is being run on 05/21/2001 and lossrun data has been generated for 12/31/2000. By selecting the "Use Data Valued as of 12/31/2000" option on the report control all claim values shown on the reports include all payments to the end of the day on 12/31/2000 and exclude all payments made after that date.  Also, any claim entered into the system after 12/31/2000 will be excluded from the report.

  6. Note: All values on these reports are life of claim numbers up to and including the report's valuation date. 

Data type: Posted totals if the report is being valued as of the run date of the report otherwise these reports use calculated totals.

Claims are qualified for this report if : The Date of Injury or the Claim Entered date falls in the reporting period.  Which date to use is user defined from the report control.  The default is to report all claims with a Date of Injury in the reporting period.

Fields included on report: 

• 1. Indemnity 

     1. 1. Incurred - the sum of  indemnity paid + open indemnity reserve

        2. Paid - the amount of indemnity paid in the claim

        3. Reserve - open indemnity reserve for the claim

  2. Medical / Expense

• • • 1. Incurred - the sum of  medical paid + expense paid + open medical/expense reserve 

      2. Paid - the sum of medical paid + expense paid

      3. Reserve - open medical/expense reserve for the claim

• 3. Totals

• • • 1. Incurred - the sum of medical paid + expense paid + open medical/expense reserve + indemnity paid + open indemnity reserve

      2. Paid - the amount of medical paid + expense paid + indemnity paid.

      3. Reserve - open medical/expense reserve + open indemnity reserve

• 4. Open and Closed Claim counts