Learn about modified community rating in health insurance, a method of determining medical expense rates using local data. Understand its impact on premiums and regulatory implications.
Learn about the standard class rate in health insurance, a vital component in calculating group demographic information by applying a base rate for each participant.
Learn about basic form rates in property insurance, including the combined Group I and Group II rates as defined under the commercial lines program.
Learn about manual excess in liability insurance, an additional premium calculated beyond the liability limit. This involves multiplying the manual rate by specific rate factors to determine the extra cost.
Learn about Rating Bureau in insurance, an organization that classifies rates and hazards by geographic area. Understand its role in the insurance industry.
Learn about the trend factor in health insurance, a key element that accounts for increasing costs such as the inflation of doctor’s costs and healthcare services.
Learn the basics of loss loading in reinsurance and how it influences the reinsurance rate. Explore how this essential factor is applied to a pure loss cost.
Explore the concept of occupancy in property insurance. Learn how the use of a property can affect insurance policy rates and why it is important.
Explore the concept of Small Group Pooling in health insurance, where small businesses combine into one pool to achieve more accurate rates and improved coverage options.
Understand the role of an Underwriter in general insurance terms. Learn how they assess risks and establish rates and coverage amounts to protect both the insurer and insured.
Learn how numerical rating in life insurance is used to determine the policy rates for substandard insureds. Understand the system of adding values to a standard risk of 100 to establish the appropriate rate.
Discover what a rate card is in general insurance— a small card provided to agents and sales representatives, listing rates for various coverages.
Learn what promulgate means in the context of general insurance. From the development to the publishing and enforcement of insurance rates, and its relevance to publicizing legal orders.
