Insurance Loss Runs: This is How to Get Them

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What are loss runs?

If you’re currently shopping for insurance, chances are you have already been asked or will be asked for a copy of your business loss runs.

Loss runs are reports provided by your existing insurance company. So what is a loss run report and what does it include? This report provide details about claims reported to your company during your policy period. Insurance companies use it to analyze how many claims you make, what types of claims, and the financial impact of each.

More than likely, when you first purchased insurance, even as a startup, your insurance agent requested loss runs or a signed letter stating you were unaware of any losses to date.

What's included in loss runs?

This is the information to expect in your loss runs report if you have a history of losses:

Your business name

Your policy number

Your policy term

The date your claim occurred

The date you reported the claim

A description of how the incident occured

The type of claim you made. EG general liability, professional liability, or commercial property.

The amount the insurance company for legal or defense fees.

The amount the insurance company has paid for medical expenses, property damage, or settlement costs.

The amount the insurance company has set aside to pay future costs associated with the claim.

Whether your claim is open (potential for claim costs to increase) or closed (expenses have been finalized and settled).

More info included in loss runs:

The type of claim you made. EG general liability, professional liability, or commercial property.

The amount the insurance company for legal or defense fees.

The amount the insurance company has paid for medical expenses, property damage, or settlement costs.

The amount the insurance company has set aside to pay future costs associated with the claim.

Whether your claim is open (potential for claim costs to increase) or closed (expenses have been finalized and settled).

How do you get your loss runs report?

To get a copy of your Loss Runs report, your insurance should have an online portal where you can download it. If not, contact your insurance agent or carrier with the following information:

Business name as listed on the policy.ç

Your policy number.

The number of years you need. Most insurance companies require three to five years of loss history.

Insurance Loss Runs: This is How to Get Them

What are loss runs?

What's included in loss runs?

This is the information to expect in your loss runs report if you have a history of losses:

More info included in loss runs:

How do you get your loss runs report?

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