Insurance companies frequently ask businesses for Loss Runs when quoting commercial insurance.

A Loss Run is a report showing the business’s insurance claim history.

It may show:

  • Claim date
  • Type of claim
  • Amount paid
  • Amount reserved
  • Claim status
  • Open claims
  • Closed claims

Commercial underwriters often request several years of loss history.

How Loss History Affects Your Premium

Insurance companies evaluate both the number and severity of claims.

For example:

A contractor with:

  • Frequent property damage claims
  • Multiple Workers’ Compensation injuries
  • Large open claims
  • Serious vehicle accidents

may be viewed differently from a similar contractor with no losses.

Loss history can affect:

  • Eligibility
  • Premium
  • Deductible requirements
  • Available carriers
  • Coverage restrictions
  • Underwriting approval

NCCI’s risk history resources allow authorized insurers and agents to review historical payroll, claim counts, audited payroll, cancellations, and other risk information.

Read more:NCCI — Risk History Information