MLchartDataset catalogue

Basic premium factor BPF

Term · Insurance and risk management · MLC-T-INS-000534

A multiplier used in certain insurance rating plans, particularly in workers' compensation, to adjust the manual premium based on the size of the insured's payroll or other exposure base. This factor accounts for fixed expenses and profit margins that do not vary directly with the size of the risk. It is applied before experience modification or other rating adjustments.

Table 1. Record
IdentifierMLC-T-INS-000534
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000534",
  "term": "Basic premium factor BPF",
  "field": "Insurance and risk management",
  "definition": "A multiplier used in certain insurance rating plans, particularly in workers' compensation, to adjust the manual premium based on the size of the insured's payroll or other exposure base. This factor accounts for fixed expenses and profit margins that do not vary directly with the size of the risk. It is applied before experience modification or other rating adjustments.",
  "url": "https://mlchart.com/terminology/insurance/basic-premium-factor-bpf/"
}

Record 297 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.