IBNR
Business & Finance abbreviation · Insurance
| Stands for | Incurred but not reported |
|---|---|
| Categories | Business & Finance |
IBNR stands for Incurred but not reported, an insurance abbreviation.
Estimate of claims for losses that have already happened but have not yet been reported to the insurer, recorded as a reserve on the balance sheet.
Example: Actuaries raised IBNR after asbestos claims kept emerging years after exposure.
Usage notes
IBNR reserves are largest for "long-tail" lines such as liability and workers' compensation, where claims can arrive years after the event. Reserve adequacy is central to an insurer's financial health.
Related abbreviations
More insurance abbreviations
- GUL – Guaranteed universal life
- GWP – Gross written premium
- HO-3 – Homeowners 3 special form
- HO-4 – Homeowners 4 contents broad form
- HO-5 – Homeowners 5 comprehensive form
- HO-6 – Homeowners 6 unit-owners form
- IDV – Insured declared value
- ILIT – Irrevocable life insurance trust
- ILS – Insurance-linked securities
- ISO – Insurance Services Office
- ITV – Insurance to value
- IUL – Indexed universal life