Template
Loss run summary template for broker submissions
A loss summary condenses several years of claims into one page: for each policy year, how many claims, how much is paid, how much is still reserved, and which claims drive the result. Download the template, or let LossRun Pro fill the figures from the carriers' loss runs and tie them out first.
Free, no account. The Excel template has a Loss Summary sheet, a Large Losses sheet and a Read Me sheet. The CSV holds the summary table with the same formulas.
Definition
What a loss run summary is
A loss run summary is a one-page schedule, normally by policy year, that condenses the claims shown on a carrier's loss runs into counts and amounts: claims, open claims, paid, reserve and incurred, with the largest claims called out. It sits in the submission beside the loss runs themselves, so an underwriter can read the history in a minute and then check any year against the report behind it.
For the underwriter
What underwriters want to see with the summary
Markets differ, and the submission instructions from the market you are approaching come first. These are the points most underwriters look for in a loss history.
Five full policy years plus the current term
Many markets ask for five years. Show every year, including a year with no claims, entered as 0 claims and 0.00, so a gap is never a question.
A valuation date on the page
Each loss run is valued as of a date. Many markets ask for loss runs valued within 60 to 90 days of the proposed effective date. Confirm the window with the market you are approaching.
The same basis in every row
Say whether incurred includes expense. Mixing a figure that includes expense with one that does not makes years look different when they are not.
Open claims separated from closed
A count of open claims for each year, because open claims carry the reserves that can still move.
Largest losses listed one by one
A short factual line on each claim that drives the result: what happened, where it stands and what happens next.
Loss runs attached
The summary supports the carriers' own reports; it does not replace them. Each year in the summary should be traceable to a loss run.
Figures that agree with the reports
If the summary adds up to something different from the loss run, the underwriter will notice before you explain it. A tie-out per policy year removes that risk.
The template
What is in each column
The summary table has seventeen columns. Incurred is paid loss plus paid expense plus reserve, the loss ratio appears when premium is entered, and the total row sums every column that can be summed.
| Column | Heading | What to put there |
|---|---|---|
| A to K | Policy Year through Carrier Tie-Out | The same eleven columns, in the same order, as the Policy Year Summary that LossRun Pro writes. Paste the CSV rows straight in. |
| L | Carrier | The carrier that wrote that policy year. Needed when one year is split across carriers or lines. |
| M | Policy Number | As printed on the loss run, so the underwriter can match a row to a report. |
| N | Line of Business | GL, Auto, WC, Property, Umbrella or Professional. Use one block of rows per line if you submit several lines. |
| O | Premium (your records) | Optional. Premium is not on most loss runs, so it comes from your own policy records. |
| P | Loss Ratio | Incurred divided by premium, calculated only when premium is entered. State in Notes whether incurred includes expense. |
| Q | Notes | Anything the underwriter needs beside the numbers: a change of carrier, a sold operation, a variance you have already resolved. |
The Large Losses sheet
One row per claim that drives the result, with the claim number, policy year, date of loss, status, paid loss, paid expense, reserve and incurred, then four text columns: what happened, where it stands and what happens next, whether suit has been filed, and recovery or subrogation potential. Fill it from the claim file, and keep each entry factual.
Steps
How to build the summary from the carriers' loss runs
The figures come from the loss runs and are tied out. The judgment about which claims to explain is yours.
- Download the templateChoose the Excel template or the CSV. Both have six policy-year rows, totals and the incurred and loss ratio formulas already in place.
- Convert each carrier's loss runUpload the PDFs on the converter. Read each tie-out, and deal with any variance before you move on.
- Download the Policy Year SummaryChoose the summary CSV from the download panel. It has one row per policy year, in the same columns as A to K of the template.
- Paste and completePaste the rows into columns A to K. Add carrier, policy number, line of business and premium from your records, and any note an underwriter needs.
- Write up the large losses and attach the reportsUse the Large Losses sheet for the claims that drive the result. Attach the carriers' loss runs and the claims schedule behind the summary.
Comparison
Building the summary by hand, from a generic conversion, or from LossRun Pro
The template is the same in each case. What differs is how the figures get into it and whether they have been checked.
| What you need | Manual re-keying | Generic PDF-to-Excel | LossRun Pro |
|---|---|---|---|
| Totals by policy year | Add each year's claims by hand or build a pivot from re-keyed rows. | Convert, clean the cells, then build a pivot table. | Written for you as the Policy Year Summary: claims, open, paid, expense, reserve, incurred, largest claim. |
| Agreement with the carrier's report | Compare against each report's total, if time allows. | Not checked. | A tie-out result for every year, in the last column of the summary. |
| Largest claim for each year | Scan the column and note it. | Sort and read. | Largest claim number and amount are in the summary row; claims that carry a year are flagged. |
| Open claims | Count Open in the status column. | Count it yourself if the status survived conversion. | Open claims counted per year; open claims more than three years old are flagged. |
| Several carriers | Combine five tables. | Combine five differently shaped sheets. | One summary across all uploads, grouped by policy year. |
FAQ
Questions about loss run summaries
What is a loss run summary?
A loss run summary, also called a loss summary or loss history summary, is a one-page schedule that condenses the claims on the carriers' loss runs, usually by policy year. For each year it shows the number of claims, how many are open, and the paid, reserved and incurred amounts, often with the largest claims listed below. It goes into a submission beside the loss runs, not in place of them.
What should a loss summary include for an underwriter?
At minimum: the policy years covered, claim counts with open claims separated, paid, reserve and incurred by year, the largest claims with a line of explanation, the valuation date, and the carrier and policy number behind each year. The market's submission instructions come first. If they ask for more, such as claim-level detail by line of business, the claims schedule from LossRun Pro supplies it.
How many years should the summary cover?
Five full policy years plus the current term is a common request, and the template has six rows for that reason. Some lines or markets ask for fewer or more, and a newer business shows the years it has. Follow the request in front of you, and list a year with no claims as zero rather than leaving it out.
Should incurred include expense?
State the basis and keep it the same in every row. In the template, Incurred is paid loss plus paid expense plus reserve. Some carriers print an incurred figure that leaves expense out. LossRun Pro notes when a report's printed incurred matches paid loss plus reserve, so you know which basis that report used. If one carrier is on a different basis, change that row's formula and say so in Notes.
How do I show a policy year with no claims?
Enter the year with 0 claims, 0 open and 0.00 in each amount column. Carriers often print a line such as "no claims reported" for a period with nothing to list. LossRun Pro lists such a period and ties it to zero, and the summary row carries through into the CSV.
What belongs on the Large Losses sheet?
The claims that drive the result, usually the largest by incurred, plus any open claim with a large reserve. For each one: what happened, where the claim stands (open or closed, whether suit has been filed) and what happens next. Keep it to facts you can support from the file. The template has columns for paid, reserve and incurred so the narrative sits beside the numbers.
Can LossRun Pro fill in the template for me?
It produces the Policy Year Summary in the same eleven columns as columns A to K of the template, so you paste the rows in rather than retype them. It does not edit your own file. Carrier, policy number, line of business, premium, the loss ratio and the narratives are yours to add.
Does the template calculate a loss ratio?
Yes, when you enter premium. Premium is not on most loss runs, so it has to come from your own records. The ratio is incurred divided by premium. Say in Notes whether incurred includes expense, because markets measure loss ratios in different ways.
Do I need Excel, or will the CSV do?
The CSV opens in any spreadsheet program and has the same columns and formulas for incurred, loss ratio and totals. The Excel version adds the Large Losses sheet and a Read Me sheet, and sets number formats on the input cells.
Is the template free?
Yes. Both downloads are free and need no account. The template is a plain spreadsheet with no macros.