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Related Definitions
Operating employees The non managers in an organization, who perform specific tasks and usually manufacture a product or provide a service for customers.
Operating liability VS Financial liability An operating liability is an obligation incurred in producing goods and services for customers. A financial liability is an obligation incurred in raising cash to finance operations.
Operating asset VS Financial asset An operating asset is used to produce goods or services to sell to customers in operations. A financing asset is used for storing excess cash to be reinvested in ..
Unisex rating Unisex rating is a rating system in which the pooled loss experience of both sexes is used to determine the rates charged.
Schedule rating Schedule rating is a type of merit-rating method in which each exposure is individually rated and given a basis rate that is then modified by debits or credits for undesirable or desirable physical
Retrospective rating Retrospective rating is a type of merit-rating method in which the insured’s loss experience during the current policy period determines
Pure premium method of rating Pure premium method of rating is a rating system used in property and casualty insurance. The pure premium is determined by dividing the dollar amount of incurred losses and loss-adjustment expenses by
Rebating Rebating is a practice—illegal in virtually all states—of giving a premium reduction or some other financial advantage to an individual
Judgment rating Judgment rating refers rate-making method for which each exposure is individually evaluated and the rate is determined largely by the
Nonparticipating policy Nonparticipating policy is a term used to describe a life insurance policy that does not pay dividends.
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