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Claims Ratio definition

Claims Ratio or "Loss Ratio" means Claims Incurred, net of reinsurance, expressed as a percentage of net earned premiums and shall be determined on a combined basis for Company's Insurance Subsidiaries.
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Claims Ratio is a ratio used to determine the Reinsurer's share of liability for certain items in Article XVI relating to a claim under a reinsured policy or rider. The numerator of the ratio is the Amount Reinsured on which Reinsurance Premiums have been computed. The denominator is the amount of the death benefit, as defined in the reinsured policy (and/or reinsured rider, if applicable), minus the cash value of the reinsured policy.
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Claims Ratio means the ratio of (a) the twelve (12)-month rolling average of claims expenses of APIC and Wyndham (in each case excluding Loss Adjustment Expenses) to (b) the twelve (12)-month rolling average of premium revenues of APIC and Wyndham during the same period, expressed as a percentage.
Sample 1

Examples of Claims Ratio in a sentence

  • PA & TRAVEL INSURANCE BUSINESS)schemes and the balance one-fourth were covered by group and individual policies issued by general and health insurers.Trend in Net Incurred claims ratio under Health Insurance Business (other than Personal Accident and Travel Insurance Business)I.4.5.4 The trend of increase in Net Incurred Claims Ratio (Net ICR) continued in 2016-17.

  • Incurred Claims Ratio under Group Policy Loading %age Between 70% and 100%25Between 101% and 125%55Between 126% and 150%90Between 151% and 175%120Between 176% and 200%150Above 200%cover to be reviewed Note: Low claim ratio discount (Bonus) or High Claim ratio loading (Malus) will be applicable to the premium at renewal of the policy depending on the incurred claims ratio for the entire group insured.

  • Based on the claims history of Cover 3 and Cover 4, the following loading shall be applicable on renewals for Cover 3 and Cover 4 only:Incurred Claims Ratio under Cover 3 & 4Loading Percentage (%)Between 80% and 100%Renewal Clause exclusive for Cover 1 and 2Under normal circumstances, renewal of the covers will not be refused except on the grounds of moral hazard, misrepresentation and fraud of the Insured.

  • Total basic premium means the total premium computed before applying group discount and /or High Claims Ratio Loading, Low Claim Discount.b. Option for Maternity Expenses and Newborn Child Cover Benefit Extension has to be exercised at the time of inception of the policy period and no refund is allowable in case of Insured‟s cancellation of this option during the currency of the policy.

  • The key assumptions considered in the sensitivity analysis are as follows: • Initial Expected Loss Ratio (“IELR”) for accident year• Selected Ultimate Loss Ratio (“ULR”) The IELR is a parameter used in the Expected Claims Ratio and Bornhuetter-Ferguson methods.

  • Except as provided in Paragraph 5 of this Article, Reinsurer shall not be liable for any punitive, exemplary or other extra- contractual damages awarded by a court against the Company with respect to a policy or rider reinsured under this Agreement, and the Reinsurer's liability therefor under this Agreement shall be limited to the Reinsured Amount plus its Claims Ratio of covered claims expenses and of statutory penalties.

  • The participants seemed satisfied with their neighbourhood facilities and amenities as promoting active lifestyle and enhancing physical activity.

  • For purposes of the preceding sentence, the numerator of the Claims Ratio shall be recalculated by deducting Reinsurer's share of any recovery under (iv) of the preceding sentence, and the denominator of the Claims Ratio shall be recalculated by deducting the total amount of any recovery under (iv) of the preceding sentence.

  • Except as provided in Paragraph 5 of this Article, Reinsurer's liability shall include indemnification of the Claims Ratio of any covered claim expenses incurred by Company in defending or investigating a policy claim.

  • If the Company is required to pay penalties or interest imposed automatically by statute, other than penalties or interest arising from Company's negligent or intentional violation of such a statute, Reinsurer shall indemnify the Company for the Claims Ratio of such penalties and interest.


More Definitions of Claims Ratio

Claims Ratio means the total sum of claims incurred on own account including claims-adjustment costs in relation to Premiums Earned on own account, expressed as a percentage.
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Related to Claims Ratio

  • Adjusted Quick Ratio is the ratio of (a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue.

  • Loss Ratio means the ratio (expressed as a percentage) of the total amount of losses on claims associated with insurance policies incurred during a specified period to premiums earned during such period. The loss ratio is a key measure of underwriting profitability and the quality of the insurance portfolio and is used for comparisons to industry benchmarks and internal targets.

  • Funded Debt Ratio means, at any time, the ratio of (a) consolidated Funded Debt of the Company and its Subsidiaries then outstanding to (b) consolidated EBITDA of the Company and its Subsidiaries for the period of four consecutive fiscal quarters of the Company ending on the most recently ended Test End Date, or in the case of calculations as of a Test End Date, for the period of four consecutive fiscal quarters then ending, plus the Applicable Add-Back for such Test End Date.

  • Total Debt Ratio means, at any time, the ratio of (i) Total Debt of the Company and its Subsidiaries on a combined consolidated basis as of such time to (ii) EBITDA for the four fiscal quarter period ending as of the last day of the most recently ended fiscal quarter as of such time.

  • Loss-to-Liquidation Ratio means the ratio (expressed as a percentage) computed as of the last day of each calendar month by dividing (i) the aggregate Outstanding Balance of all Receivables which became Defaulted Receivables during such month, by (ii) the aggregate amount of Collections received by the Collection Agent during such period.

  • Quick Ratio means, with respect to Lessee at any time, the ratio, determined on a consolidated basis in accordance with GAAP, of:

  • Allocation Ratio With respect to any Series, as defined in the related Supplement.

  • Debt Ratio means “Total borrowings (include current & non-current borrowings” divided by “Total Equity ( exclude non-controlling interests)”.

  • Net Debt to EBITDA Ratio means the ratio of Net Debt to EBITDA for the then most recently concluded fiscal year, subject to adjustments for Asset Dispositions and investments made during the period.

  • Consolidated Total Debt Ratio means, as of any Applicable Calculation Date, the ratio of (1) Consolidated Total Indebtedness of the Issuer and its Restricted Subsidiaries, minus cash and Cash Equivalents of the Issuer and its Restricted Subsidiaries, in each case, computed as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the Applicable Calculation Date to (2) the Issuer’s Consolidated EBITDA for the Applicable Measurement Period, in each case with such pro forma adjustments to Consolidated Total Indebtedness, cash, Cash Equivalents and Consolidated EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio; provided that, for purposes of the calculation of Consolidated Total Debt Ratio, in connection with the incurrence of any Indebtedness pursuant to Section 10.11, the Issuer may elect, pursuant to an Officer’s Certificate delivered to the Trustee, to treat all or any portion of the commitment (any such amount elected until revoked as described below, an “Elected Amount”) under any Indebtedness which is to be incurred (or any commitment in respect thereof) as being incurred as of the Applicable Calculation Date and (1) any subsequent incurrence of such Indebtedness under such commitment (so long as the total amount under such Indebtedness does not exceed the Elected Amount) shall not be deemed, for purposes of this calculation, to be an incurrence of additional Indebtedness at such subsequent time, (2) the Issuer may revoke an election of an Elected Amount pursuant to an Officer’s Certificate delivered to the Trustee and (3) for purposes of all subsequent calculations of the Consolidated Total Debt Ratio, the Elected Amount (if any) shall be deemed to be outstanding, whether or not such amount is actually outstanding, so long as the applicable commitment remains outstanding.

  • Funded Debt to EBITDA Ratio means on any date the ratio of (a) Total Indebtedness to (b) EBITDA for the period of four consecutive Fiscal Quarters ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter most recently ended prior to such date).

  • Total Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (a) Total Debt as of such day to (b) EBITDA for the Computation Period ending on such day.

  • Consolidated Total Debt to Consolidated EBITDA Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of the last day of the relevant Test Period to (b) Consolidated EBITDA for such Test Period.

  • Expense Ratio means the ratio (expressed as a percentage) of sales, underwriting and administrative expenses to premiums earned for a specified period. The expense ratio measures the operational efficiency of the Company and is a useful comparison to industry benchmarks and internal targets.

  • Debt to Capitalization Ratio means the ratio of (a) Consolidated Funded Debt to (b) Consolidated Capitalization.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Loss Horizon Ratio means, for any Calculation Period, the quotient, expressed as a percentage, of (a) the aggregate initial Unpaid Balance of Eligible Receivables which arose during the four most recent Calculation Periods, divided by (b) the Net Pool Balance as of the most recent Month End Date.

  • Consolidated Senior Secured Debt Ratio as of the last day of any period of four consecutive Fiscal Quarters, the ratio of (a) Consolidated Senior Secured Debt on such day to (b) Consolidated EBITDA for such period.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Debt to Cash Flow Ratio means, with respect to any Person as of any date of determination, the ratio of (a) the Consolidated Indebtedness of such Person as of such date, less cash and Cash Equivalents, to (b) the Consolidated Cash Flow of such Person for the four most recent full fiscal quarters ending immediately prior to such date for which internal financial statements are available. For purposes of making the computation referred to above:

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • First Lien Leverage Ratio means, on any date, the ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

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