Like this study set? Create a free account to save it.

Sign up for an account

Already have a Quizlet account? .

Create an account

Familiar Terms

Paid Loss

A claim payment that an insurer has made

Incurred losses

The sum of paid losses and changes in loss reserves for a particular period

Loss Reserves

Amounts designated by insurers to pay claims for losses that have already occurred but are not yet settled

Net investment gain or loss

An isnurer's gains or losses from the sale of invested assets plus net investment income.

Net underwriting gain or loss

An insurer's earned premiums minus its losses and underwriting expenses for a specific period

Overall gain or loss from operations

net investment gain or loss plus net underwriting gain or loss


Types of property, both tangilble and intangible, owned by an entity

Admitted assets

Types of property, such as cash and stocks, that regulators allow insurers to show as assets on their financial statements.

Nonadmitted assets

Types of property, such as office furniture and equipment, that regulators do not allow insurers to show as assets on financial statements because these assets cannot readily be converted to cash at or near their market value


Finanical obligations, or debts, owed by a company to another entity, usually the policyholder the case of an insurer.

Loss Reserve

The amount estimated and set aside by insurers to pay claims for losses that have already occurred but are not yet settled.

Unearned premium reserve

The total of an insurer's unearned premiums on all policies at a particular time

Policyholders' surplus

An insurer's total admitted assets minus it's total liabilities

Balance sheet

A finanical statemetn that shows a company's financial

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions and try again


Reload the page to try again!


Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

Voice Recording