Viewing the Claim Financial Summary Report

Through the process of managing a claim, reserves and estimates are created and adjusted, and payments are made and received. The Claim Financial Summary report provides a comparative view of the current financial status of the claim.

Note: The report only includes payments in Paid status.

Click Financial Summary in the Common Screens widget. The Claim Financial Summary window opens.

The Financial Summary panel summarizes the current cost of the claim.

Net Incurred	Displays the total current cost, calculated from the Total Indemnity and Expense Payments minus the Total Salvage and Recovery Payments.
Projected Net Incurred	Displays the total projected cost, calculated from the Net Incurred plus the Current Reserve and minus the Current Estimate.

The Indemnity and Expense panel presents reserve values and associated payments.

Type	Displays the type of reserve and payments.
Original Reserve	Displays the first reserve value set after creating the claim.
Current Reserve	Displays the current reserve value, after all manual and automatic adjustments.
Paid Losses	Displays the total of all payments of this type.
Incurred Losses	Displays the sum of the Current Reserve and Paid Losses columns.

The Salvage and Recovery panel presents estimated return values and associated payments.

Type	Displays the type of estimate and payments.
Original Estimate	Displays the first estimate value set after creating the claim.
Current Estimate	Displays the current estimate value, after all manual and automatic adjustments.
Recoveries	Displays the total of all payments of this type.
Projected Recoveries	Displays the sum of the Current Estimate and Recoveries columns.

Click Close to close the window.