Guaranteed cost GC

Term · Insurance and risk management · MLC-T-INS-001686

An insurance pricing structure where the premium is fixed and known at the beginning of the policy period, regardless of the actual claims experience during that period. This contrasts with experience-rated or retrospective rating plans where the final premium can adjust based on losses. It provides budget certainty for the insured.

Table 1. Record
Identifier	MLC-T-INS-001686
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001686",
  "term": "Guaranteed cost GC",
  "field": "Insurance and risk management",
  "definition": "An insurance pricing structure where the premium is fixed and known at the beginning of the policy period, regardless of the actual claims experience during that period. This contrasts with experience-rated or retrospective rating plans where the final premium can adjust based on losses. It provides budget certainty for the insured.",
  "url": "https://mlchart.com/terminology/insurance/guaranteed-cost-gc/"
}

Record 1,607 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.