This item represents the total reserves for unpaid losses and loss adjustment expenses, including reserves for incurred but not reported losses, in any, and supplemental reserves established by the company. It is the total for all lines of business and all accident years.

All methods of reducing the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and non-insurance transfer of risk. A combination of risk control techniques with risk financing techniques forms the nucleus of a risk management program. The use of appropriate insurance, avoidance of risk, loss control, risk retention, self-insuring, and other techniques that minimize the risks of a business, individual, or organization.

Net paid losses during the current year plus the change in loss reserves since the prior year end.

The ratio of incurred losses and loss adjustment expenses to net premiums earned, expressed as a percent. This ratio measures the company's underlying profitability, or loss experience, on its total book of business.

These organizations are voluntary unincorporated associations of individuals. Each individual assumes a specified portion of the liability under each policy issued. The underwriters operate through a common attorney-in-fact appointed for this purpose by the underwriters. The laws of most states contain some provisions governing the formation and operation of such organizations, but these laws do not generally provide as strict a supervision and control as the laws dealing with incorporated stock and mutual insurance companies.

In life and health insurance, a policy the benefits from which are intended to pay off the balance due on a mortgage or meet the payments on a mortgage as they fall due upon or after the death or disability of the insured.

Companies with no capital stock, owned by policyholders. The earnings of the company over and above the payments of the losses and operating expenses and reserves are the property of the policyholders. There are two types of mutual insurance companies, the nonassessable charges a fixed premium and the policyholders cannot be assessed. Legal reserves and surplus are maintained to provide payment of all claims. Assessable mutuals are those companies that charge an initial fixed premium, and if that is not sufficient may assess the policyholders to meet losses in excess of the premiums that have been charged as well as provide statistical services.