CALENDAR YEAR EXPERIENCE
The underwriting outcome based on premiums that are earned and booked incurred losses for the similar calendar-year accounting cycle. Commonly used in the insurance industry to indicate an insurance company's "experience" throughout the calendar year, according to the losses incurred and the premiums acquired. Losses incurred pertains to claims spent for the year and alterations to the loss reserves.
Also called as underwriting year experience and accident year experience.
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