ACORD 48 (Loss History Schedule)
An ACORD form used to document an insured's loss history across multiple years and coverage lines for submission to carriers.
What It Is
The ACORD 48 is the Loss History Schedule form used to present an insured's claims history in a standardized tabular format. It captures each claim's date of loss, description, amounts paid (indemnity and expense), amounts reserved, and current status (open or closed) across multiple policy years.
The form is attached to commercial insurance submissions to provide underwriters with a clear view of the insured's loss experience. It may cover a single line of business or multiple lines, and typically presents five years of loss history as most carriers require.
The ACORD 48 is distinct from a loss run (which is the carrier's own claims report) in that it is prepared by the broker and may consolidate loss data from multiple carriers into a single summary.
Why It Matters for Brokers
Loss history is one of the most important factors in underwriting decisions and pricing. A well-organized ACORD 48 that presents loss data clearly and consistently helps underwriters evaluate the risk quickly and accurately. Brokers who proactively prepare ACORD 48 schedules and include narrative descriptions of large losses demonstrate that they understand the account and have analyzed the loss pattern. This proactive approach often results in better underwriting treatment.
Real-World Example
A commercial trucking company is going to market for competitive auto liability quotes. The broker prepares an ACORD 48 covering five years of loss history across three prior carriers. The schedule shows 47 claims with a combined $1.2M in paid losses, an improving trend over the past three years, and notes that the two largest claims are closed. This organized presentation saves underwriters significant time and contributes to competitive quotes.
Common Mistakes
- 1Not reconciling loss data between different carriers' loss runs, presenting inconsistent or duplicated claims on the ACORD 48.
- 2Omitting reserve amounts for open claims, which misleads underwriters about the true loss exposure.
- 3Failing to include narrative descriptions for large losses, forcing underwriters to make assumptions about severity drivers.
How brokerageaudit.com Handles This
BrokerageAudit automatically compiles loss history from carrier loss runs into a standardized ACORD 48 format, reconciling data across multiple carriers and policy years for a clean, consistent presentation.