Exam (elaborations)
C16 - CH8 - Pricing Insurance Coverages Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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What is *retrospective rating plan*? : The retrospective rating plan is based on the insured's actual loss experience during the policy term. The client and insurer agree on a formula under which the ultimate cost of claims will be borne by the insured. Min and Max premium, LO - Explain the d...
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