A loss reserve established for each individual claim when it is reported to a property and casualty insurance company is called a(n)
A)admitted asset.
B)incurred-but-not-reported (IBNR)reserve.
C)unearned premium reserve.
D)case reserve.

Question

Quizplus · Accepted Answer

A loss reserve established for each individual claim when it is reported to a property and casualty insurance company is called a case reserve. This reserve estimate is adjusted as the claim progresses and additional information becomes available.

A Loss Reserve Established for Each Individual Claim When It