Question

What is an Incurred But Not Reported (I.B.N.R.) claim?

a.

A claim advised some years after the date of occurrence

b.

A claim that has already been paid by the reinsurer

c.

A claim that is reported on time by the reinsured

d.

A claim that is reported after the deadline

Posted under IC85 Reinsurance Management

Answer: (a).A claim advised some years after the date of occurrence Explanation:Most claims are advised some years after the date of occurrence. These are known as Incurred But Not Reported (I.B.N.R.) claims.

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