phrase
loss runs
In plain English
A report from a carrier listing all claims activity on a policy over a stated period — usually 3 to 5 years.
Underwriters require loss runs at every quote and renewal. Three years of clean loss runs unlock better pricing; loss runs with patterns (multiple slip-and-fall claims, repeated water damage) trigger declines and surcharges.
What it covers
Each loss listed includes claim number, date of loss, cause, status (open/closed), reserves, and amount paid.
What it does not cover
Loss runs are NOT permanently retained — once you switch carriers, getting old loss runs back from the prior carrier can take 30+ days.
Where it trips people up
Insureds often forget which carrier had which prior policy. Pull loss runs proactively at every renewal so you have a continuous record on hand.
The technical version
A report issued by an insurer documenting all claims activity on a policy over a specified period, used by underwriters to evaluate the insured's loss history at renewal or new business.