individual risk premium modification IRPM
Individual risk premium modification refers to the sum of judgment rating factors (debits or credits) assigned to distinguish the insured's characteristics from the average insured in its class, which are not already recognized in the rating process.
individual risk premium modification IRPM
Individual risk premium modification refers to the sum of judgment rating factors (debits or credits) assigned to distinguish the insured's characteristics from the average insured in its class, which are not already recognized in the rating process.
Additional Information
The judgment rating factor is applied to the premium to develop the modified premium. Examples include the insured's safety program, financial condition, and overall management attributes.
