The largest liability on property-casualty insurers' balance sheet as of 2015 was

Question

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Loss reserve and loss adjustment expenses represent the estimated future costs of settling claims from policyholders. This liability can be significant, as it includes claims that have been reported but not yet settled, as well as claims that may arise in the future from past events. Unearned premiums represent premiums that have been paid by policyholders but have not yet been earned by the insurer, so they are not a liability but rather a deferred revenue. Cash is an asset, not a liability. Policyholder surplus is the amount by which assets exceed liabilities, so it is not a liability. Conditional reserve funds are not a commonly used term and are not a liability on insurers' balance sheet.

The Largest Liability on Property-Casualty Insurers' Balance Sheet as of 2015