MLchartDataset catalogue

Experience account

Term · Insurance and risk management · MLC-T-INS-001407

A record maintained by workers' compensation rating bureaus that tracks an individual employer's payroll and loss data over several years. This account is used to calculate the employer's experience modification factor, which adjusts their insurance premium. The data typically includes incurred losses, paid losses, and reserves for open claims.

Table 1. Record
IdentifierMLC-T-INS-001407
FieldInsurance and risk management
SubjectWorkers Compensation
Record as JSON 
{
  "id": "MLC-T-INS-001407",
  "term": "Experience account",
  "field": "Insurance and risk management",
  "definition": "A record maintained by workers' compensation rating bureaus that tracks an individual employer's payroll and loss data over several years. This account is used to calculate the employer's experience modification factor, which adjusts their insurance premium. The data typically includes incurred losses, paid losses, and reserves for open claims.",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/experience-account/"
}

Record 1,272 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.