Loss Run
A report from an insurer listing the claims, if any, on a policy over a period of time. New insurers often ask for several years of loss runs to quote.
What it means for your firm
You request loss runs from your current or past insurers. Many underwriters want them dated within the last few months.
If you have never had coverage, insurers often accept a signed statement that you know of no losses instead.
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
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