Loss runs are reports issued by an insurance carrier listing every claim reported under a policy: the date of loss, a description, amounts paid, reserves on open claims, and each claim's status. Underwriters read them the way a lender reads a credit report, as the account's track record in the carrier's own numbers.
You will need them at every market submission, every agency of record change, and any time a client disputes what their claim history actually shows. Requesting them early is routine, and carriers expect it.
Loss Runs
A claim history report produced by an insurer for a specific insured and policy period, showing reported claims with paid amounts, outstanding reserves, and claim status as of a stated valuation date.
How do you request loss runs?
Send a written request to the current or prior carrier, signed by the insured or submitted by the broker of record. Most carriers accept requests through their agency portal, and many make loss runs downloadable there directly. Ask for five years of history, which is the standard lookback most underwriters require, and ask for currently valued reports. A submission with loss runs valued more than 90 days old will bounce back from most underwriting desks with a request for fresh ones.
Turnaround varies. Portal downloads are instant, emailed requests can take days to a few weeks, and several states set statutory deadlines for carriers to respond.
If a client is leaving a carrier on bad terms, get the request in before the relationship sours further. The carrier owns the data, and the insured only has a right to a copy of it.
What do valuation dates and open reserves mean?
Every loss run states a valuation date, the snapshot date for all its figures. A claim shown open with a $60,000 reserve on a March valuation may close for $9,000 by June, and the two reports tell very different stories to an underwriter. Reserves are the adjuster's estimate of what an open claim will ultimately cost, not money already spent, yet underwriters price incurred losses, which means paid plus reserved.
This is why reviewing open reserves before marketing an account is real work, not paperwork. A claim that settled below its reserve, or one where a subrogation recovery came in after the valuation date, is overstating the client's losses. For workers compensation, the same reserve figures feed the unit statistical data behind the experience modification rate, so a stale reserve costs premium twice.
Frequently asked questions
How far back should loss runs go?
Five years is the standard underwriting lookback for most commercial lines. Some carriers accept three years for small accounts, and umbrella or workers compensation underwriters sometimes ask for more. A no losses letter covers years with no claims.
How long does it take to get loss runs from a carrier?
Anywhere from minutes to a few weeks. Agency portals produce them instantly, emailed requests to a carrier's loss run department commonly take five to fifteen business days, and some states impose statutory response deadlines on carriers.
What is a currently valued loss run?
One whose valuation date is recent, usually within 90 days of the submission. Because open reserves change as claims develop, underwriters discount or reject reports with old valuation dates. Always check the valuation date before sending a report to market.
Do loss runs show claims that were reported but never paid?
Yes. Reported incidents typically appear even when closed with no payment, listed as closed with zero paid. That works in the insured's favor, because a pattern of reported but unpaid claims reads far better than the same count with dollars attached.
This definition is for educational purposes. Your policy's specific terms, conditions, and endorsements control. Talk to a licensed broker about your actual exposures.