Match the descriptions with their terms:
-Converted losses equal losses times the _________________.
A) assigned risk plan
B) association captive
C) excess insurance
D) experience modification factor
E) float
F) industry captive
G) large deductible plan
H) liquidating damages
I) loss conversion factor
J) offshore captive
K) onshore captive
L) partial permanent injury
M) RMIS
N) single parent captive
O) standard premium
P) workers' compensation insurance

Question

Quizplus · Accepted Answer

The correct term for "Converted losses equal losses times the _________________" is "loss conversion factor." This factor is used to adjust actual losses to reflect what the losses are expected to be, taking into account various factors such as inflation or the potential for loss development.

Match the Descriptions with Their Terms