Incurred Claims refer to the total amount of loss recorded by an insurance company within a specified period including both paid claims and allocated amounts reserved for unresolved claims.
A detailed explanation of Joint Underwriting Associations (JUAs), which are collaborations among insurance companies to provide added capacity for covering risks that are too large or complex for a single company.
Definition and explanation of the market value of an asset in insurance and financial terms, alongside its relation to regulations and market dynamics.