Deviation

{
  "id": "MLC-T-INS-001153",
  "term": "Deviation",
  "field": "Insurance and risk management",
  "definition": "A departure from the standard or expected terms, rates, or rules of an insurance policy or rating plan. Insurers may file deviations with state regulatory authorities to offer unique products or pricing structures tailored to specific market segments or risk profiles. These deviations must be justified by actuarial data and approved by the insurance department.",
  "url": "https://mlchart.com/terminology/insurance/deviation/"
}