loss ratio, paid basis
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The percentage of the losses paid to the premiums written during a given period.
Internal Revenue Service 1
The percentage of the losses paid to the premiums written during a given period.
1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://www.irs.gov/irm/part4/irm_04-042-006.html (last accessed Dec. 22, 2009).