Empirical Rate Calculation


Definition of "Empirical rate calculation"

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.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

General Characteristics

Attributes of a particular employee benefit plan. For example, a general characteristic of group lif ...

National Association Of Insurance Women (naiw)

Educational organization for insurance women whose objective is to further the interests of these wo ...

Demising Clause

Provision of housing requirements based on family size, ages, occupations, marital status, and other ...

Home Equity Line Of Credit (HELOC)

A mortgage set up as a line of credit against which a borrower can draw up to a maximum amount, as o ...

Summary Possession

Act of actual eviction or removal of a lessee from a property. The eviction may be either voluntaril ...

Housing Ownership Records

Records maintained as evidence of ownership of the home and any of its contents. ...

Related Real Estate FAQ

What Is The APR For This ARM Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

What Is A FHA Mortgage?

A FHA mortgage is when the government guarantees Federal Housing Authority loans. You can put down a ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

What Is Long Term Care Insurance?

Long-term care refers to a broad range of medical and personal care services designed to assist indi ...

What If They No Longer Make My Specific Computer?

The insurance company will replace it with a model as close to it as possible in the current retail ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is Earnest Money Home Prices - The Extra Costs 6 Reasons you are not selling properties How To Choose A Realtor When to Dispute Your Home Appraisal

FAQ

What is the difference between being prequalified and preapproved for a loan? What is an appreciation? What is a maintenance fee? How Much Can I Afford ? What is a survey?