In which phase of the insurance process is a loss run predominantly used?

A loss run is primarily a record of an insured's claims history over a specific period. In the context of insurance, it provides vital information about past claims and losses associated with a policyholder. This history is essential during the underwriting phase, where underwriters assess the risk associated with insuring an individual or business. The information contained in a loss run helps underwriters evaluate the likelihood of future claims based on the insured's past behavior and can significantly influence their decision regarding coverage, premium pricing, and terms of the policy.

Additionally, while loss runs can provide insights that may be useful for claims handling, policy renewal, and risk management overall, their primary function lies in the underwriting process. This is where the assessment of risk is critical, allowing for informed decision-making on whether to accept or decline the risk, and establishing appropriate pricing and policy conditions.