Experience rating


Also found in: Medical.

Experience rating

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

Experience Rating

In insurance, a calculation of a policy's premium based on the likelihood of a claim on that policy. This calculation takes into account the policyholder's history of past claims with the aim of discouraging dangerous activities that would lead to a claim. For instance, a policyholder with a history of claims due to work-related injuries will likely pay higher premiums because of his/her experience rating than a policyholder with no such history. Indeed, an experience rating showing few or no claims can lead to discounts on premiums.
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The majority of the Provincial Workers' Compensation boards have an experience rating program in place.
In this paper, Federal Reserve Board economist David Ratner utilizes the variance in experience rating across states to calculate the effect of increased experience-rating.
0 or below experience rating to bid jobs, I'm constantly focused on learning how to better prepare them for the changes.
The computer industry received the fourth lowest-average customer experience rating, falling only ahead of health plans, Internet service providers, and TV service providers.
To examine the equity of this system, we met with officials from five states, reviewed prior studies, and examined state data to determine (1) how states ensure that employers pay UI taxes based on their experience with unemployment, and the aspects of state unemployment insurance systems that limit experience rating; (2) the extent to which employers pay unemployment insurance taxes commensurate with unemployment benefits paid to their former employees; and how this varies by industry; and (3) steps states could take to increase the degree of experience rating.
According to G3T marketing director Lee Squire the phone's 100 per cent "out of box" experience rating by University Of Central England User-lab, fulfils the developers business objective of creating a phone that provides "everything a customer needs to make high-quality, inexpensive phone calls, in one simple, easy-to-use device.
The experience rating system, the basis for premiums paid by employers remains and continues to-encourage employers to to protect themselves from higher payroll costs.
The legislation specifically prohibits employers from setting up shell companies for the purpose of transferring all or some of an employer's workforce and payroll to decrease its unemployment experience rating.
419A(f)(6) exemption does not apply to plans that use experience rating for individual employers.
Experience rating is largely absent from medical malpractice insurance contracts.
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