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
Injury that continues after a wound from physical or psychic entry. (The latter is a wound that makes a lasting impression on the mind, especially upon the subconscious mind; for example, a ...
Obligatory reinsurance contract in which a reinsurer agrees to pay for all or a large portion of losses up to a limit, when these losses exceed the retention level of the cedent. The ...
Coverage in which one premium payment is made and the policy is fully paid up with no further premiums required. ...
Form of state rating law that requires prior approval of property and casualty insurance premiums by the state insurance department for certain changes. Here, a state generally allows new ...
Actuarial evaluation of the assets of a pension plan according to the fair market value of the assets. ...
Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
One of two bureaus that writes forms and files standard rates for inland marine insurance. The other is the inland marine insurance bureau. ...
Point in time when a term life insurance policy terminates its coverage. ...
Trust in which the trustee distributes capital and income to the beneficiaries of the trust according to their economic needs. ...
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