A technique insurance companies use to determine the correct price of a policy premium.

As respects workers compensation, the method in which the actual loss experience of the insured is compared to the loss experience that is normally expected by other risks in the insured's r [..]

Definition A quantitative measure used by an insurance company to determine how much a given policy should cost, calculated using historical data to determine the risk of future claims.

This rating system makes use of a group's premium and their claim experience to establish premium rates. Depending on the previous year's claim experience the insured party's premium wi [..]

All insurers and the Assigned Risk Plan (ARP) are required to use experience rating, following a standard formula, for those employers with at least $3,000 of premium annually. Under experience-rating, premium is adjusted, by means of an experience modification factor, to reflect the employer's recent claims costs. This factor is calculated an [..]

rating system where each group is rated entirely on the basis of its own expected claims in the coming period, with retrospective adjustments for prior periods. This method is prohibited under the con [..]

A method of determining health plan pricing based in whole or in part on the specific claims experience of the specific employer group or pool of groups.

A method of determining the premium for a health insurance policy based on the average cost of actual or anticipated utilization of care by various groups.

A method of setting premium levels for an insured based upon the insured's loss history. Also known as retrospective rating.

Process of determining the premium rate for a group risk, wholly or partially on the basis of that group's claims experience to date.

 Determination of the premium rate for an individual risk, made partially or wholly on the basis of that risk's own past claim experience.

A method for determining an employer's workers' compensation premiums that reflects (a) a comparison of the employer's recent loss experience with the amount the employer would have bee [..]

The process of determining the premium rate for a group risk, wholly or partially on the basis of that group's experience.

A method insurers use to decide the amount of premium to charge customers based on the actual usage of large groups with like risks.

The process of determining the premium rate for a group risk, wholly or partially on the basis of that group's experience.

A method of setting premiums for health insurance policies based on the claims history of an individual or group.

See Rating, Experience Rating

The process of setting rates partially or in whole on evaluating previous claims experience for a specific group or pool of groups. The rating system by which the Plan determines the capitation rate or premium rate is determined by the experience of the individual group enrolled, based on actual or anticipated health care use by the specific group [..]

A technique insurance companies use to determine the correct price of a policy premium.