Moving Average Rating Method
Procedure, in insurance, used in time series analysis to smooth out irregularities in projections of loss expectations. Irregularities to be smoothed out include: loss experience that is not homogeneous, loss experience from early policy years not representative of current loss experience, adverse selection by policyholders, changes in loss experience due to changing social values, and loss experience distortion due to misleading averages.
Popular Insurance Terms
Insurance company's reinsurance commissions and expense allowances divided by its adjusted surplus account. The smaller this ratio, the more financially sound the insurance company, since ...
Insurance policy that combines the elements of a deferred annuity with the elements of DECREASING TERM LIFE INSURANCE. This policy was originally designed to act as a funding instrument for ...
Stated fixed payment for maternity costs regardless of the actual costs. ...
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Insurance contract under which a policy owner cannot be assessed for adverse loss and expense experience of the insurance company. ...
Settlement of a dispute that arises when two or more insurers cover a single loss, and there is a question concerning the amount each is responsible to pay. The companies are bound by the ...
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Trust to which a donor transfers assets and that distributes income to finance a predetermined situation. After the trust expires, any remaining assets are donated to the qualified charity ...
Facility that provides short periods of stay for a terminally ill person in a homelike setting for either direct care or respite. A "terminally ill" person has a life expectancy of six ...
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