loss development factor
Defined in 1 place of the United States Code.
the term "loss development factor" means an adjustment to be made to reserves held for losses incurred for claims reported by any person engaged in the business of insurance, for the purpose of bringing such reserves to an ultimate paid basis.
Source
- 2020–present15 U.S.C. § 1013Commerce and Trade · Suspension until June 30, 1948, of application of certain Federal laws; Sherman Act applicable to agreements to, or acts of, boycott, coercion, or intimidation · in this chapter