What is a loss run report in property insurance?

A loss run report is specifically designed to summarize the claims history of an insured property. This report includes detailed information on all claims made by the policyholder during a specified period, highlighting the date of each claim, the amount paid, and the status of the claims. Insurers use loss run reports to assess the risk associated with a property when determining rates, coverages, and eligibility for renewal.

By having a comprehensive understanding of the claims history, insurers can make more informed underwriting decisions. A property with a significant or frequent claims history may indicate higher risk, which in turn could lead to higher premiums or alternative coverage options. Therefore, the loss run report serves as a critical tool for both insurance companies and policyholders in evaluating the risk and history associated with a property.

The other options describe different types of reports or information that are not directly related to loss run reports. For example, details about premiums, potential risks, or market value fluctuations do not capture the core function and purpose of a loss run report, which focuses solely on previously filed claims.