MLchartDataset catalogue

Rating

Term · Insurance and risk management · MLC-T-INS-002800

The process of determining the premium an insured will pay for an insurance policy, based on an assessment of the risk involved. In workers' compensation, this involves applying classification codes, rates, experience modification factors, and other adjustments to an employer's payroll. The goal is to establish a premium that is commensurate with the expected losses.

Table 1. Record
IdentifierMLC-T-INS-002800
FieldInsurance and risk management
SubjectWorkers Compensation
Record as JSON 
{
  "id": "MLC-T-INS-002800",
  "term": "Rating",
  "field": "Insurance and risk management",
  "definition": "The process of determining the premium an insured will pay for an insurance policy, based on an assessment of the risk involved. In workers' compensation, this involves applying classification codes, rates, experience modification factors, and other adjustments to an employer's payroll. The goal is to establish a premium that is commensurate with the expected losses.",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/rating/"
}

Record 2,810 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.