Net Loss Is The Final Countdown
The term Net Loss is seldom used in Workers Compensation. The figure represents the final paid loss regardless of the reserves that were set on the claim. The final paid loss may differ from the Total Incurred if the file was closed after the Unit Stat Date.
The net loss would be reduced if there are subrogation, reinsurance, or Second Injury Fund recoveries. The best term to use with Workers Compensation is Total Incurred as it represents the numbers that will be part of the Experience Mod calculation.
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