GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
If you have a comment, suggestion or question please contact us at glossary@scic.com

Development Factor

Factor designed to correct errors when estimating the reserves for known but unsettled losses and to make an allowance for incurred but not reported (IBNR) losses. See also Loss development factor.

Do you need an answer immediately?

Check out our FAQ page!

Welcome To the Alliance!

The National Alliance for Insurance Education & Research is now the Risk & Insurance Education Alliance, or simply “The Alliance”.  For more details, please read our Press Release.