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Clover Insurance Brokers
3800 Steeles Ave West, Suite 201E,
Woodbridge, Ontario L4L 4G9
A Division of Wood & Kirkpatrick LTD, 
Canada's Oldest Broker Since 1821 
Phone |
Fax|
Toll-Free|
Quote #8589
Hours
Mon-Fri 9-5 EST
Toronto Line|
Travel|
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*** EFFECTIVE OCTOBER 10th, 2024 ***
We are unable to process requests for quotes from the website.
Please CALL our office to speak to a Licensed Insurance Broker.
1-844-340-1578
Quote Requests done online will NOT be responded to.

Incurred but not Reported Claims

Insurance companies are required to put up reserves on all claims. This even includes claims that have not yet been reported to the company. It is the sum added to the total of claims reserve and is usually determined by means of an estimate based upon the actual claims reported late one year earlier, two years earlier, etc., with proper adjustment made for increase in premium income and inflation.