Rating tiers definition
Rating tiers means an underwriting and rating plan designed to categorize insurance risks that have common characteristics related to potential insurance loss into broad groups for the purpose of establishing a set of rating levels that reflect definable levels of potential hazard or risk.
Rating tiers means an underwriting and rating plan designed to categorize insurance 805 risks that have common characteristics related to potential insurance loss into broad groups for the 806 purpose of establishing a set of rating levels that reflect definable levels of potential hazard or risk. 807 [(3)] (14) "Riskiness" means the variability of results around the average expected result. 808 [(4)] (15) "Supplementary rate information" includes [any] one or more of the following 809 needed to determine the applicable rate in effect or to be in effect: