retrospective rating
Retrospective rating is a rating plan that adjusts the premium, subject to a certain minimum and maximum, to reflect the current loss experience of the insured.
retrospective rating
Retrospective rating is a rating plan that adjusts the premium, subject to a certain minimum and maximum, to reflect the current loss experience of the insured.
Additional Information
Retrospective rating combines actual losses with graded expenses to produce a premium that more accurately reflects the current experience of the insured. Adjustments are performed periodically, after the policy has expired.
