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The correct response highlights that a loss run typically encompasses lists of losses and their total cost. A loss run is a document generated by an insurer that summarizes a policyholder’s loss history over a specified period. It provides vital information for both the insured and the insurer when evaluating risk and premium rates.

Including lists of losses alongside their corresponding total costs offers a comprehensive overview of the financial impact of claims. This information is essential for assessing the risk profile of the insured party and aids in making informed decisions regarding insurance coverage and potential renewals. It allows businesses to identify patterns, manage risk more effectively, and plan for future financial implications related to claims.

Other options may include elements of claims history but do not capture the full scope of what is standard in a loss run. For instance, a simple tally of losses without details fails to provide insight into the financial implications, while a detailed description of each loss could be part of a reports provided for specific purposes but is not typically included in standard loss runs. Claims processes and timelines, while important for claim management, are distinctly different from the data contained within a loss run report, which focuses primarily on the historical loss data.