What does ICR stand for in the context of insurance? Option: Incurred Coverage Ratio, Insurance Claim Ratio, Incurred Claim Ratio, Insurance Coverage Rate

What does ICR stand for in the context of insurance?

Why is it crucial to consider the incurred claims ratio (ICR) alongside the claim settlement ratio?

How is the Incurred Claim Ratio (ICR) calculated?

What does an ICR of over 100% indicate about an insurance company's financial health?

What is generally considered a healthy range for an insurance company's ICR?

What might a very low ICR (less than 50%) suggest about an insurance company's policies?