Daily Report

What Does Daily Report Mean?

A daily report is a document that provides information pertinent to a specific insurance policy. It may include details such as the premium amounts, the date of issue, and the insured’s name. Daily reports are typically distributed to insurance agents, the insurer, and other parties involved in the contract. It looks similar to the declarations page that comes with most property policies, which is why new buyers often pull it out when they’re working through homeowners insurance basics for the first time.

Insuranceopedia Explains Daily Report

Daily reports often serve as the top page of a policy. They are shared with parties involved in issuing and managing the policy, ensuring they stay informed about updates and details. For instance, the insurance agent who sold the policy may require a copy of the daily report to verify the sale information. This data could also be essential for calculating the agent’s commission on the sale. On commercial accounts, the premium printed on the report reflects the underwriting math behind how business insurance premiums are calculated, which is part of why those figures can shift from one renewal to the next.