What information does a 'Loss Run' report provide?

A 'Loss Run' report is a comprehensive document that summarizes an insured party's claims history over a specified period. It typically includes detailed information about each claim, such as the date, type of claim, the amount paid, and any outstanding reserves. This report is crucial for insurance companies when evaluating the risk associated with renewing a policy or issuing new coverage, as it provides insight into the insured's past behavior and risk profile.

The importance of this information lies in its ability to inform underwriting decisions, potentially affecting the terms and premium rates of future insurance policies. Insurers rely on claims history to assess how often and how severely a particular insured party has had incidents that required claims, which directly impacts their risk assessment and pricing strategies.

Other options, while they may seem relevant, do not capture the full range of insights provided by a 'Loss Run' report. It focuses specifically on the insured's claims history rather than covering other aspects of the insurance policy such as coverage types or premium estimations.