Guide: large losses
Large loss summary for underwriters: a one-page format
A large loss summary is a one-page list of the claims that drive an account's loss history. Each row shows status, paid, reserve and incurred, with a short factual note on what happened and where it stands. It sits beside the loss runs, not in place of them.
General information, not advice. This is not insurance, legal or financial advice. Requirements differ by carrier, state and market; follow the instructions of the market you are approaching.
The page
What goes on it
- A header. The insured, the carriers and lines, the valuation date and the incurred basis.
- A stated threshold. No standard defines a large loss, so say what you used and keep it the same across years. Common choices are a dollar amount, the largest few claims in each year, or a share of the year's incurred. A fixed amount that suits one account can list almost nothing, or almost everything, on another, so size it to the account.
- One row per claim. Claim number, policy year, status, paid loss, paid expense, reserve, incurred and a note.
- Totals and share. What the listed claims add up to, and what share of all incurred that is.
Line-specific points are in the general liability and commercial auto guides.
Steps
How to build the page
Numbers from the schedule, facts from the file, nothing from a guess.
- Settle and state the thresholdPick one rule and print it at the top of the page.
- Pull the claims from the tied-out scheduleTake the numbers from the schedule, not retyped from the PDFs, so they match the loss runs.
- Write each note in three partsWhat happened, as the loss run describes it. Where it stands: open or closed, suit filed or not. What happens next. Confirm each part with the adjuster.
- Add the totals and the shareTotal the listed claims and show what share of all incurred they make up. It shows whether the history is a few events or many.
- Check and date the pageTie the totals to the policy-year summary, put the valuation date on the page and attach the loss runs.
Layout
The page, with three sample claims
Each note pairs what the loss run says with what is still to confirm.
| Claim | Status | Paid loss | Paid expense | Reserve | Incurred | Note |
|---|---|---|---|---|---|---|
| GL-24-0502 2024-25 | Closed | 61,900.00 | 17,340.00 | 0.00 | 79,240.00 | Fall from ladder, third-party bodily injury. To confirm: closing date and any recovery. |
| GL-25-0447 2025-26 | Open | 5,600.00 | 3,950.00 | 48,500.00 | 58,050.00 | Water intrusion to suite 210 after membrane install. To confirm: whether suit has been filed and what the reserve rests on. |
| GL-25-0214 2025-26 | Open | 14,250.00 | 6,480.00 | 22,000.00 | 42,730.00 | Hail-related leak claim, workmanship disputed. To confirm: where the dispute stands. |
| Total listed | 81,750.00 | 27,770.00 | 70,500.00 | 180,020.00 |
These three claims are $180,020.00 of the sample's $269,710.00 incurred, about 67 percent.
Pitfalls
What goes wrong
- Opinion in the note. Comments on fault, coverage or the strength of a claim belong to the carrier and counsel.
- Predicted outcomes. "Expected to close soon", with no source, can mislead. Report status, not forecasts.
- A threshold that moves. Changing the rule between years can hide a year.
- Numbers that do not match the loss runs, because they were retyped.
- No valuation date. The page is a snapshot, like the reports behind it. Without the date, the reader cannot tell which loss runs it matches.
- Names that need not be there. Some brokers keep injured people's names off the summary and leave them on the attached loss runs. Check your agency's and the market's data rules.
The tool
How LossRun Pro helps
LossRun Pro supplies the numbers behind the page: every claim with its status, paid, expense, reserve and incurred, the largest claim in each policy year, and a note on any claim over a quarter of the incurred in a period with two or more claims. The Excel version of the loss run summary template has a Large Losses sheet with columns for the narrative, which you write from the claim file. Start on the loss run to Excel page. Free: 1 file per day, up to 10 pages, no account. Files over 10 pages are converted up to page 10 on the free allowance; a page code converts the whole file, up to 150 pages. See pricing.
FAQ
Questions about large loss summaries
What counts as a large loss?
There is no standard. It depends on the size of the account and the market, so state your threshold: a dollar amount, the largest few claims, or a share of the year's incurred.
How many claims should the page hold?
Few enough to read in a minute. If the list runs past one page, raise the threshold and attach the detail.
Should closed claims be included?
Yes, if they drive the result. Show the status of each, so the reader can see what is finished and what is not.
Who writes the status note?
You compile it, from the adjuster's reply and the claim file. Keep to what they support, and avoid predictions.
Does the summary replace the loss runs?
No. It sits beside them, and every figure on it should trace back to a report. For the status wording, see open claims on a loss run.
What if there are no large losses?
Say so, show your threshold and list the largest claim anyway. A statement is better than a blank page.