retention plan
A retention plan is a type of dividend plan most often used only in connection with workers compensation insurance.
retention plan
A retention plan is a type of dividend plan most often used only in connection with workers compensation insurance.
Additional Information
This plan provides that the net cost to the insured is equal to a retention factor (insurance company expenses) plus actual incurred losses, subject to a maximum equal to standard premium less premium discount. Can be used for other lines of insurance.
