MLchartDataset catalogue

Residual market load (RML)

Term · Insurance and risk management · MLC-T-INS-002912

A charge or assessment levied on insurers to cover the losses and expenses incurred by residual market mechanisms, which provide insurance to high-risk individuals or entities unable to obtain coverage in the voluntary market. This load is typically passed on to policyholders through higher premiums. Residual markets exist for lines such as auto, workers' compensation, and property insurance.

Table 1. Record
IdentifierMLC-T-INS-002912
FieldInsurance and risk management
AbbreviationRML
Record as JSON 
{
  "id": "MLC-T-INS-002912",
  "term": "Residual market load (RML)",
  "field": "Insurance and risk management",
  "definition": "A charge or assessment levied on insurers to cover the losses and expenses incurred by residual market mechanisms, which provide insurance to high-risk individuals or entities unable to obtain coverage in the voluntary market. This load is typically passed on to policyholders through higher premiums. Residual markets exist for lines such as auto, workers' compensation, and property insurance.",
  "abbreviation": "RML",
  "url": "https://mlchart.com/terminology/insurance/residual-market-load-rml/"
}

Record 2,951 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.