ASOP 5 | §2.17 | UNPAID CLAIMS LIABILITY

The value of the unpaid portion of incurred claims, including unreported claims and reported but unpaid claims. For a risk-bearing entity’s balance sheet, the unpaid claims liability includes provision for all unpaid claims incurred during the current and prior periods.

Congratulations! You're now Froogled Up™ on Section 2.17 from ASOP 5!

Feel free to use it throughout your financial/insurance life.

Sincerely,

www.FroogleMe.com