Empirical Rate Calculation

Definition of "Empirical rate calculation"

Shannon Prescott real estate agent
Shannon Prescott, Real Estate Agent Dickerson Real Estate

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.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions