A manual rate is a rate promulgated for a given class of risks rather than for an individual risk.
Correct Answer:
Verified
Q6: The amount charged per unit of exposure
Q7: The cost of doing business in insurance
Q8: If the pure premium is $100 and
Q9: Interest earned by insurers on premiums collected
Q10: Legislative supervision of insurers is generally concerned
Q12: The loss ratio method of rate making
Q13: A discount from a manual rate is
Q14: Merit rating is aimed at adjusting an
Q15: Experience rating looks to the past lost
Q16: A retrospective rating method affects the premium
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents