Moving Average Rating Method
Definition of "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
Collection of numbers to record and analyze data such as occurrences of events and particular characteristics. Statistics are absolutely vital to all elements of insurance. In life and ...
Coverage in the event that property is damaged or destroyed so that an insured cannot use the property for its intended purpose. For example, loss of use of a drill press because of ...
Modified premium used to calculate cash surrender values in excess of that required by the naic: standard NON FORFEITURE LAW. ...
Statement by an auditor or certified public accountant indicating if a company's financial statements fairly present its true financial condition. A statement of opinion may be unqualified, ...
Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
Health insurance coverage for miscellaneous medical expenses associated with a hospital stay. Benefits provided in individual and group health insurance include ambulance service to and ...
Unincorporated association with each insured insuring the other insureds within the association. (Thus, each participant in this pool is both an insurer and an insured.) An attorney-in-fact ...
Record of ordinary policies that a combination agent is responsible for servicing. ...
Professional designation awarded by the American College. In addition to professional business experience in financial planning, recipients are required to pass national examinations in ...
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