Empirical Rate Calculation

Definition of "Empirical rate calculation"

Jay, Lori & Paige  Houston real estate agent
Jay, Lori & Paige Houston, Real Estate Agent Texas Real Estate Pro

Adjustment of the burning cost ratio for the increase in number and size of losses (losses likely in excess of that used in the unadjusted burning cost rate), incurred but not reported losses (IBNR), inflation, expenses, profits, and contingencies.

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