Who is responsible for generating a loss run report for a policyholder?

The responsibility for generating a loss run report for a policyholder primarily falls on the insurance company. A loss run report is a critical document that outlines the claims history for a specific insurance policy, detailing all the losses incurred under that policy over a specified period.

Insurance companies maintain comprehensive records of all claims made by policyholders, including the status of those claims and any payments made. When a policyholder requests a loss run report, it is the insurance company's duty to compile this information accurately and provide it to the policyholder. Additionally, loss run reports can be vital for various reasons, such as obtaining quotes from other insurers, negotiating premiums, or understanding claim trends.

While the insurance agent may assist in facilitating the request or interpreting the information presented in the loss run report, it is ultimately the insurer that has the data and the obligation to generate the report. Conversely, the policyholder can request their loss runs but does not have the capability to create them independently, and regulatory bodies oversee insurance operations but do not issue loss run reports directly to policyholders.