Liability for Unpaid Insurance Claims

Definition

This account is used to record the amount of unpaid insurance claims recorded by administering federal entities for adverse events occurring before the end of the accounting period. Include in this account the claims that have been reported but not paid, and claims incurred but not reported from Exchange Transaction Insurance Programs Other than Life Insurance and Non-Exchange Transaction Insurance. This account excludes the unpaid claims for Life Insurance Programs, which are recorded in USSGL account 221800, "Life Insurance Benefits Due and Payable to Beneficiaries," social insurance, and loan guarantee program claims. This is not an actuarial liability account for estimated losses; Adverse events part of a larger series of events not yet completed by the end of the reporting period should be considered in estimating a liability for losses on remaining coverage within USSGL 266000, "Actuarial Liabilities for Federal Insurance and Guarantee Programs." This account does not close at year-end.

Year-end: This account does not close at year-end.

Source: Section II · p1sec2-acctdef-2026.pdf

For each attribute this account reports, these are the only domain values GTAS will accept for this account (Section IV).