Incurred But Not Reported (IBNR)
IBNR refers to liabilities for events that have occurred but have not yet been reported to the insurer. In workers’ compensation, it represents the estimated cost of claims that have occurred but are not yet known.
IBNR refers to liabilities for events that have occurred but have not yet been reported to the insurer. In workers’ compensation, it represents the estimated cost of claims that have occurred but are not yet known.