Currently Valued Loss Runs

The valuation date is the whole point

Every loss run carries two different spans of time, and mixing them up is the single most common reason a submission comes back incomplete.

	Policy period	Valuation date
What it describes	The years the claims happened in	The single day the carrier priced the claims
Typical value	Five policy years	One date, e.g. "Valued as of 09/01/2026"
What "currently valued" refers to	No	Yes
Goes stale?	No — history doesn't change	Yes — every single day

A loss run can cover 2021 through 2026 and still be rejected as stale, because it was valued in January and the underwriter is reading it in September.

Why underwriters insist on it

Reserves move. An open liability claim reserved at $15,000 when it was first reported can sit at $140,000 nine months later once medical bills, wage loss, or defence costs develop. Closed claims are stable; open ones are not.

An underwriter pricing an account off a nine-month-old loss run is pricing off numbers the carrier itself no longer believes. That is why "currently valued" appears in submission requirements rather than just "loss runs" — the market is protecting itself against reserve development it cannot see.

The practical consequence for an agency: a loss run you pulled for a different submission three months ago is usually not reusable. Loss runs do not re-value themselves.

How current is "current"?

There is no single industry rule, but the thresholds cluster:

• 90 days — the most common requirement, and a safe default assumption for standard commercial lines
• 60 days — frequently required by E&S carriers, MGAs, and on larger or loss-sensitive accounts
• 30 days — seen on workers' compensation submissions and on accounts with significant open claims, where reserve development is fastest

Always read the specific market's submission requirements. When they say "currently valued" without a number, 90 days is the working assumption, but confirming costs you one email and a rejected submission costs you a week.

5-year vs. 3-year loss runs

A 5-year loss run report is the most common request in commercial lines. What goes into one is covered in our loss run report guide.

The number of years is a separate requirement from the valuation date. A submission can demand both — "five years of currently valued loss runs" is a standard phrase and it is two conditions, not one.

• Five years — the default for most commercial submissions. Usually means the current policy year plus the four prior years.
• Three years — accepted for smaller accounts, some monoline placements, and certain program business.
• Ten years — occasionally required for long-tail exposures such as professional liability, products liability, or construction defect.

If the account changed carriers during that window, five years of history means loss runs from more than one carrier. Each one needs its own valuation date inside the window.

Finding the valuation date on the report

Carriers label it inconsistently. Look in the report header or footer for any of:

• "Valued as of" / "Valuation date"
• "Evaluated as of" / "Evaluation date"
• "Loss data as of" / "Claims valued through"
• "As of date" / "Report date"

Be careful with "Report date" and "Print date" — on some carrier formats they are the same as the valuation date, and on others the report was printed today from data frozen last quarter. When the two appear separately, the valuation date governs.

If you cannot find a valuation date anywhere on the document, treat the loss run as unusable for submission and request a replacement. An underwriter will make the same call.

How to ask for it

Carriers will send whatever the request asks for, so ask precisely. A request that gets the right document the first time names both conditions:

Please provide currently valued loss runs for the five most recent policy years, valued within the last 30 days, including all open and closed claims with paid and reserve amounts shown separately.

Asking for a valuation window tighter than the market requires costs nothing and buys you room — a loss run valued 30 days ago is still inside a 90-day window six weeks later, when the underwriter finally reads it.

What "loss run statement" means

Some carriers and some submission checklists say "loss run statement" rather than "loss run report". In practice they mean the same document: the carrier's official claims record for a policy. The word "statement" does not imply a different or shorter format.

What it is not is a statement of no loss. That is a separate document, the ACORD 37 (Statement of No Loss), in which an insured certifies that they know of no losses, accidents or circumstances that could lead to a claim during a coverage lapse. If an underwriter asks for a statement of no loss, a loss run will not satisfy the request, and vice versa.

Common reasons a currently valued loss run gets rejected

• Valuation date outside the window — the most common. Check it before you send, not after.
• Not enough years — four years supplied where five were required, usually because the account changed carriers and one carrier's history was missed.
• Reserves omitted — some carrier formats show paid amounts only by default. Underwriters need incurred, which means paid plus reserves.
• Closed claims suppressed — a report filtered to open claims only understates frequency, which is exactly what the underwriter is measuring.
• No valuation date printed — an undated report cannot be verified as current, so it gets treated as stale.

Where this fits in the workflow

The valuation window is what makes loss runs a recurring chore rather than a one-time collection exercise. Every renewal cycle and every re-marketing exercise needs fresh documents, which means requesting them again, waiting again, and re-keying the data again.

LossRunGuru is built to read carrier loss run PDFs and return the claims as structured data, so the re-keying half of that loop stops being manual. See how loss run automation works →

Related reading: what a loss run report is, what one actually looks like, and how to get loss runs from a carrier.