An insurer’s loss reserve is a(n)

Insurance

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An insurer’s loss reserve is a(n)

Options

A. Asset designated for paying claims for losses that have already occurred.
B. Liability designated for paying claims for losses that have already occurred.
C. Asset designated for paying claims for losses that might happen in the future.
D. Liability designated for paying claims for losses that might happen in the future.

Answer: B. A loss reserve is a liability that represents the amount estimated and set aside by an insurer to pay claims for losses that have already occurred but are not yet settled.

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