This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Incurred but Not Reported

Represents the liability for unpaid claims not reflected in the case reserve estimates for individual losses. The two components to IBNR reserves are pure IBNR and broad or bulk IBNR; pure IBNR are those claims that have occurred but have not yet been reported as of the evaluation date; and, broad or bulk IBNR is the additional development on known claims or the increase in reserve value as the claim are investigated and settled.

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Welcome To the Alliance!

The National Alliance for Insurance Education & Research is now the Risk & Insurance Education Alliance, or simply “The Alliance”.  For more details, please read our Press Release.