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
Coverage in the event of threats to injure an insured or damage or destroy his property. ...
Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
From favor payment by an insurance company to an insured even though the company has no legal liability. The company makes such a payment for goodwill purposes. ...
Shortened report showing pertinent insurance policy information, copies of which are distributed in the insurance company's home office and branch offices, as well as to agents and brokers. ...
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Essential parts of insurance policies that explain the meanings of important words and phrases found in those policies. ...
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