What does accident year statistics mean?

accident year statistics meaning in Law Dictionary

The record of losses considering insurance claims along with its premiums in annually. The premiums is there to pay claims.

accident year statistics meaning in Business Dictionary

An insurance organization's formal record of the losings because claims and its earnings received via premiums over a one year period of time. This indicates the portion of each and every of those incoming premiums that is afterwards becoming paid out in loss claims.