Prospective loss costs definition

Prospective loss costs means that portion of a rate that does not include provisions for expenses (other than loss adjustment expenses) or profit, and is based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time.
Prospective loss costs means that portion of a rate that does not include
Prospective loss costs means the historical aggregate losses

Examples of Prospective loss costs in a sentence

  • Prospective loss costs" means that portion of a rate that does not include provisions for expenses other than loss adjustment expenses, or profit, and are based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time.

  • Prospective loss costs may provide for anticipated special assessments.

  • Prospective loss costs, rating values and miscellaneous values became effective April 1, 2000.


More Definitions of Prospective loss costs

Prospective loss costs means historical aggregate losses and loss adjustment expenses projected
Prospective loss costs means historical aggregate losses and may include loss adjustment expenses, including all assessments that are loss based, projected through development to their ultimate value and through trending to a future point in time;
Prospective loss costs means that portion of a rate that does not include provisions for expenses (other than loss adjustment expenses) or profit, and are based on historical aggregate losses or output from simulation models and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time. Loss costs, derived in part or entirely upon output form simulation models, must be approved by the commissioner before they become effective.
Prospective loss costs means historical aggregate losses and loss adjustment expenses, including all assessments that are loss-based, projected through development to their ultimate value and through trending to a future point in time, ascertained by accepted actuarial standards. Prospective loss costs do not include provisions for profit or expenses other than loss adjustment expenses and assessments that are loss-based.
Prospective loss costs means the same as pure premium rate.
Prospective loss costs means the same as pure premium rate. 787 (11) "Pure premium rate" means that portion of a rate that:
Prospective loss costs means the portion of a rate that reflects historical industry average aggregate losses and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time. The term does not include provisions for profit or expenses other than loss adjustment expense.