Resource · Published November 5, 2026
How to Read and Audit a Loss Run Report Before You Submit
Short answer
A loss run is the carrier's claims history for a policy. Before submitting, check four things: the valuation date is recent, five years connect with no gaps, the claims match the ACORD application, and any large open reserve has a short explanation.
What is a loss run report in commercial insurance?
A loss run is the carrier's own record of claims on a policy. It is the main evidence an underwriter uses to judge past loss experience, and it is part of almost every commercial submission alongside the ACORD 125 application and line-specific forms.
Because it comes from the carrier rather than the insured, the underwriter treats it as the source of truth. When the application and the loss run disagree, the submission stalls until someone explains the difference.
Which fields on a loss run actually matter?
| Field | What it means | What to check |
|---|---|---|
| Valuation date | The date the figures were run | Recent enough for the target carrier |
| Policy term | Effective and expiration dates | Terms connect with no missing years |
| Date of loss | When the claim happened | Falls inside the listed term |
| Status | Open or closed | Open claims need a short explanation |
| Paid | Amount already paid | Matches any totals quoted on the application |
| Reserve / outstanding | Amount still expected | Large reserves affect appetite and pricing |
| Incurred | Paid + reserve | Used to judge loss ratio and frequency |
What are the four red flags that stall a submission?
1. Stale valuation date
A run valued months ago may miss recent claims or reserve increases. If the valuation date is more than about 90 days before the submission or effective date, expect a request for an updated copy.
2. Gaps in five-year history
Missing years, usually after a carrier change, raise the question of what happened in that period. Request runs from every carrier in the window, or note why a year has no coverage.
3. Conflict with the ACORD application
The ACORD 125 asks about prior carriers and losses. If it says no losses while the loss run shows claims, the underwriter sees an inaccurate application, not a typo. Reconcile the two before sending.
4. Large open reserves
An open claim with a large reserve can exceed a carrier's appetite on its own. Add a short claim note: what happened, current status and any corrective action the insured took.
A five-minute loss run checklist before you submit
- Confirm every run is valued recently enough for the target market.
- Line up policy terms for the last five years and mark any gap.
- Compare claim counts and totals against the ACORD loss history answers.
- List open claims with reserves and write one-line explanations.
- Check that insured name and policy numbers match the application.
How can loss run checks be automated?
PacketSlip reads the loss run alongside the ACORD forms in the same packet, flags stale valuation dates, history gaps, application conflicts and open claims, and links every finding to the source page so a person can confirm it before the packet goes out.
Loss run report FAQ
What is a loss run report?
A loss run is a carrier-issued claims history for a policy or insured. It lists each claim by date of loss, status, amounts paid and amounts still reserved, as of a stated valuation date.
How recent does a loss run need to be?
Many carriers ask for loss runs valued within roughly 90 days of the submission or proposed effective date. Older runs may not show recent claims or reserve changes, so underwriters often request a fresh copy.
How many years of loss runs are required?
Five years of currently valued loss history is the common request for commercial lines. Some classes or markets ask for more, and new ventures may submit less with an explanation.
What does 'incurred' mean on a loss run?
Incurred is the total cost of a claim so far: amounts already paid plus the open reserve the carrier expects to pay. A claim with small payments can still carry a large incurred figure.
How do I get a loss run report?
The insured or the agent of record requests it from each prior carrier, usually by email or a carrier portal, with a signed request from the insured if the agent is not the current agent of record.
Sources and further reading
- IRMI — Glossary: Loss Run
- IRMI — Glossary: Incurred Losses
- NAIC — Insurance topics: Loss reserves
- ACORD — Forms (ACORD 125 prior carrier & loss history)
- Verisk ISO — Commercial lines
This guide is general educational information, not legal or coverage advice. Requirements vary by carrier and state; always confirm with the target market.