Loss Trends
Definition of "Loss trends"
Projections of future accidental losses based on analyses of historical loss patterns. A projected loss picture is used to determine the pure cost of protection and the resultant basic premium, contingency reserves, and whether or not the company should continue selling a given line of business, or remain in a particular geographical area. However, loss trends based on historical data may not really represent likely loss outcomes in the future.
Popular Insurance Terms
Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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Information generated by the medical information bureau (MIB) and made available to member companies concerning medical information of applicants for life and health insurance. Member ...
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Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
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