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Financial advisory
RES5Financial Advisory Services✓In pricing a Health Insurance portfolio, what does 'IBNR' refer to within total claims?
Total portfolio claims comprise paid claims, pending claims and IBNR (incurred but not reported) claims — potential claims that have occurred but have not yet been reported, e.g. due to delayed reporting. Insurers estimate IBNR and set up reserves for these future liabilities.
IBNR is about claims already incurred but not yet reported — not rejected or non-resident claims.
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