Burning Cost Ratio (pure Loss Cost)
Definition of "Burning cost ratio (pure loss cost)"
Ratio of excess losses to premium income. Excess losses are those that a reinsurer is responsible for if its coverage is in effect during the period under consideration. The premium income used for excess of loss and catastrophe LOSS reinsurance is the gross premium less the expense of reinsurance. The premium income used for STOP LOSS REINSURANCE is the earned premium income. The excess losses are defined as the incurred losses in excess of the cedent's retention up to the limits specified in the reinsurance contract.
Popular Insurance Terms
Allocation of funds in a retirement plan. ...
Utilization of life insurance to make annual gifts into a trust in order to produce the largest tax-free death benefit possible to the trust beneficiaries. ...
Interest earned but not yet paid for a period of time that has elapsed since the last interest payment. ...
Agents, managers, and office personnel serving in the branches of an insurance company. ...
Recording and presentation of financial statements, such as the annual statement, by the insurance company. Financial reporting statements are used by the State Insurance Commissioner in ...
Organization of home office underwriters of life insurance companies. HOLUA offers educational material and national examinations for home office life underwriters, the individuals who ...
Life insurance policy provision stating that after the death of an insured, the proceeds from a policy are not immediately paid to the primary beneficiary; instead, they are delayed for a ...
Provision in marine insurance listing onshore perils covered. In the case of marine cargo, these may include such occurrences as damage from flooding, sprinklers, collapse of docks, and ...
Subtraction of a number of years from a standard table of life insurance rates under the assumption that a particular group-women-outlive men and presumably will be paying premiums for a ...
Have a question or comment?
We're here to help.