Experience rating plan means any rating plan or part of a rating plan used to modify an otherwise applicable manual rate based on the past loss experience of the individual insured.
Experience rating plan means a mandatory rating plan for all
Experience rating plan means any rating plan or system wherein a manual rate for insurance is adjusted or modified based on the past loss experience of the insured.
Examples of Experience rating plan in a sentence
In early 2020, North Carolina implemented several Basic Manual, Statistical Plan, and NCCI Experience rating plan changes.
More Definitions of Experience rating plan
Experience rating plan means any rating plan or system whereby a base rate for
Experience rating plan means a[ny] rating plan or system [whereby ]where a manual rate for insurance is adjusted or modified based on the past loss experience of the insured.
Experience rating plan means any rating plan or system whereby a manual rate for insuranceis adjusted or modified based on the past loss experience of the insured.
Experience rating plan means a mandatory rating plan for all eligible insureds that establishes a workers' compensation rating procedure that compares the actual loss experience of individual insureds to the industry average for the same classification with differences reflected in the insured's premium.
Experience rating plan means any rating plan or system whereby a base rate for commercial insurance is adjusted or modified