A loss run report is one of the most important -- and most underutilized -- documents in a Florida property manager's insurance toolkit. Every property manager who helps clients shop for new insurance, navigate a renewal, or take over management of a new property should understand what a loss run report is, how to request one, what to look for in it, and how it affects a property's insurability in Florida's competitive market.
What a Loss Run Report Is
A loss run report is a claims history report issued by the current or prior insurance carrier that shows all claims filed on a specific policy over a defined period -- typically three to five years. Each entry in a loss run report includes:
- The date of loss
- A description of the claim (type of damage, cause of loss)
- The amount paid by the insurer
- The reserve amount (for open claims, the estimated amount the carrier expects to pay)
- The status -- open (still being adjusted or litigated) or closed (fully resolved)
Loss run reports are the primary tool insurance underwriters use to evaluate a property's claims history before agreeing to write new coverage. They are also used by policyholders and brokers to understand what the property's risk profile looks like from the carrier's perspective.
Why Loss Run Reports Matter
In Florida's insurance market, where carrier availability is limited and underwriters are cautious, a property's claims history can determine whether it can get coverage at all -- not just what the premium will be.
A property with a clean loss run -- no claims, or one small claim over five years -- is a competitive risk. Multiple carriers will want to quote it, and competition produces better pricing and terms. A property with multiple water damage claims, a pattern of losses, or an open claim that has been sitting unresolved will face significantly more limited options.
How to Request a Loss Run Report
The request process is straightforward. Contact the current insurance carrier or the broker who placed the current policy and request a five-year loss run report for the specific property or policy in writing. In Florida, carriers are generally required to provide loss run reports upon request within 10 to 30 business days.
For a prior carrier -- one that no longer covers the property -- use the policy number and property address to identify the policy. The request should come from the policyholder (the property owner), as they are technically the party entitled to their own claims history. Property managers who are working on behalf of an owner can facilitate the request, but the request should be authorized by the owner.
When starting to manage a new property, requesting the prior five-year loss run from the current carrier is one of the first steps. This gives the property manager visibility into the property's claims history before advising on insurance.
What Property Managers Should Look for in a Client's Loss Run
When reviewing a client's loss run, look for:
Open Claims That Should Be Closed
An open claim from two or three years ago that should logically have been resolved is a red flag. Open claims inflate the apparent risk profile and reduce underwriting appetite. Property managers should follow up on any open claim that appears to have been dormant -- getting it formally closed before shopping for new coverage can meaningfully improve the underwriting outcome.
Incorrectly Documented Claims
Sometimes claims are documented incorrectly -- a claim caused by a roof leak may be coded as a water damage claim in a way that makes it look like plumbing failure. These mischaracterizations are worth correcting with the carrier if possible, because the claim description affects how underwriters categorize the risk.
Patterns That Suggest Chronic Problems
Multiple water damage claims over five years at the same property suggest either a chronic plumbing problem or a chronic roof problem. Before taking on management of a property with this profile, the property manager should understand what the source of those claims was and whether it has been addressed. A property with an underlying condition that keeps generating claims is a liability management problem, not just an insurance problem.
When shopping for new insurance on a property with a problematic loss run, the instinct may be to present the property's best case and hope the underwriter does not dig deeply. This approach almost always backfires. Underwriters who discover undisclosed claims history during underwriting may decline the account entirely or rescind the policy after binding. Disclosing the claims history upfront, with context about what caused each claim and what remediation has been done, gives the underwriter the information they need to offer terms rather than to walk away.
How to Use a Loss Run When Shopping for New Insurance
When shopping new coverage or at renewal, share the loss run proactively when submitting to underwriters. Have a brief written narrative ready that addresses any significant claims -- what happened, what was repaired, what was done to prevent recurrence. This narrative supplements the loss run data and gives underwriters context rather than just numbers.
For properties with multiple claims, working with an experienced independent broker who has relationships with surplus lines carriers is often necessary. Standard admitted carriers may decline properties with three or more claims in five years. Surplus lines carriers have more flexibility but will price accordingly.
Request the current loss run 90 days before each policy renewal, not just when shopping for new coverage. Reviewing it 90 days out gives time to follow up on any open claims that should be closed before the renewal, to address any documentation issues, and to prepare context narratives for any claims that will require explanation in the underwriting process.
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Start Free -- No Card Required ->The Bottom Line
A loss run report is a five-year claims history from the insurance carrier that shows every claim, its description, its amount, and whether it is open or closed. Underwriters use it to decide whether and at what price to insure a property. Property managers who request loss runs when taking on new properties, review them carefully for open claims and patterns, and disclose them proactively when shopping for coverage give their clients the best possible position in Florida's challenging insurance market. For related guidance, see how to audit your Florida property insurance portfolio, the insurance renewal checklist for Florida property managers, and Florida property insurance claim timeline.