Okuzeka
Insurance vocabulary · Underwriting & Risk

Claims history

Meaning in insurance, with examples

nounCommon term

In insurance, claims history means: The record of all claims a person or company has made in past years, used by insurers to price and accept risks.

In Turkish: hasar geçmişi, hasar kaydı

How it is used

Underwriters often ask for three to five years of claims history before quoting. A clean history means lower premiums; a poor one can mean higher prices or refusal. British English also says 'claims record', and US brokers send 'loss runs'.

Example sentences

  1. The fleet has a clean claims history, so we can offer a 10 percent discount.

  2. Please send the last five years' claims history for all locations.

Common collocations

  • clean claims history
  • five-year claims history
  • poor claims history
  • review the claims history
  • no-claims bonusA discount on the premium given to policyholders who have not made a claim, which usually grows with each claim-free year.
  • underwritingThe process of studying a risk, deciding whether to insure it and setting the price and conditions of the policy.
  • risk assessmentA careful study of how likely a loss is and how serious it could be, used to decide whether and how to insure something.
  • loss ratioClaims costs divided by earned premiums, shown as a percentage; it shows how much of the premium was spent on paying losses.

More terms: Underwriting & Risk

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This page explains English vocabulary for learners. It is not financial advice.