loss limitation
Loss limitation is an optional feature of a retrospective rating plan that limits or "caps" the amount of loss (usually at the $100,000 level, or more) that would otherwise be applied to the calculation of premium.
loss limitation
Loss limitation is an optional feature of a retrospective rating plan that limits or "caps" the amount of loss (usually at the $100,000 level, or more) that would otherwise be applied to the calculation of premium.
Additional Information
An additional premium is charged for this feature by means of an "excess loss premium" (ELP) factor.
