claims-made multiplier
A factor applied to rates used for a claims-made commercial general
liability (CGL) policy, depending on
how long an insured has been in a claims-made program. The insured receives
a larger credit its 1st year in a claims-made program, and the credit is reduced
in each subsequent year (unless the retroactive date is advanced). The credit
virtually disappears in the 5th claims-made year.