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Definition: Claims incurred (gross and net)

National accounts

Claims incurred (gross and net) referred to in Article 34 of Directive 91/674/EEC. This item shall comprise all payments made in respect of the financial year plus the provision for the claims but minus the provision for claims for the preceding financial year. 

These amounts shall include annuities, surrenders, entries and withdrawals of loss provisions to and from ceding insurance undertakings and reinsurers, external and internal claims management costs and charges for claims incurred but not reported
European Union, Council Directive 91/674/EEC of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings