Tabular Interest Rate
Definition of "Tabular interest rate"
Same as term Tabular Plans: retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the basic premium for appropriate discounts, losses, and a tax multiplier. The rate is then set between the minimum and the maximum, based on the loss experience, the size of the risk, and the underwriter's judgment.
Popular Insurance Terms
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