MLchartDataset catalogue

Prospective rating

Term · Insurance and risk management · MLC-T-INS-002736

A method of calculating insurance premiums based on an assessment of future expected losses and expenses. This approach uses historical data, industry trends, and actuarial projections to determine the appropriate rate for the upcoming policy period. It contrasts with retrospective rating, which adjusts premiums based on actual past losses.

Table 1. Record
IdentifierMLC-T-INS-002736
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002736",
  "term": "Prospective rating",
  "field": "Insurance and risk management",
  "definition": "A method of calculating insurance premiums based on an assessment of future expected losses and expenses. This approach uses historical data, industry trends, and actuarial projections to determine the appropriate rate for the upcoming policy period. It contrasts with retrospective rating, which adjusts premiums based on actual past losses.",
  "url": "https://mlchart.com/terminology/insurance/prospective-rating/"
}

Record 2,789 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.