IBNR (Incurred But Not Reported)

IBNR reserves cover claims that have occurred but have not yet been reported to the insurer, plus expected future development on claims already known. Because these liabilities are not yet visible in claims data, actuaries estimate them using loss-development techniques so that reserves reflect the full ultimate cost of the exposure period.

Related terms

• Loss Development
• Chain Ladder Method
• Bornhuetter-Ferguson Method

See also

• Auditability in actuarial workflows