A loss run is a written report issued by your current and former insurance companies that summarizes your claims history with them. It’s like a credit report for insurance claims, detailing the types, dates, and amounts of past claims.
Loss runs allow potential insurers to assess how risky your business will be to insure. They will generally want to see loss runs for the past three to five years to get a good overview of your claims frequency and severity. The number and severity of claims could cause an insurer to decline offering you a quote or to offer a quote at higher rates.
To obtain your loss runs, ask your agent or insurance company for them. They typically have to provide them to you within a specific time frame specified by law. 7 to 10 days is the norm.
« Back to Glossary Index