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INCURRED BUT NOT REPORTED (IBNR) - Losses that have occurred but have not been reported to the insurer as of a particular date, sometimes referred to as “pure IBNR.” The definition of IBNR is often expanded to include future development on case reserves and loss on reopened claims, sometimes referred to as RBNE (reserved but not enough).The amount of IBNR is typically estimated by a casualty actuary.

INCURRED LOSSES - Losses that occur within a given time period, adjusted or not or paid during that period. Excludes IBNR.

INSURANCE SERVICES OFFICE (ISO), Inc. - An organization that files rates and forms for its member insurance companies. Insurance companies go to ISO to gain access to forms, exclusions, endorsements, etc. Non-members may also purchase forms for their use.