What is COMBINED RATIO?

A ratio involving loss and expense. It is used in underwriting when the ratio is less than 100%. If the ratio is over 100% than a gain is incurred.

More On This Topic
  1. Marijuana: Recreational, Grow, & Medical Laws By State 2020
  2. What Is Police Brutality?
  3. Nepotism, Cronyism, & Favoritism: Illegal Or Unethical?
  4. Is It A Monopoly? Everything You Ever Wanted To Know
  5. Romeo And Juliet Laws: Everything You Need To Know
  6. By when would it be illegal for insurance companies to deny coverage because of pre-existing conditions?
  7. How Do I Mortgage Multiple Properties?
  8. 401(K) Types, Loans, Contribution Limits, & Benefits
  9. Three Potential Consequences of Breach of Fiduciary Duty
  10. Could financial institutions like Bank of America or Citibank go bankrupt?

Related Legal Terms
Payment Systems, Secured Transactions, Comparative Constitutional Law, Torts (Selmi), Evidence 2, Remedy (Keyed to Jacobs), Criminal Law (Emanuel), Patent Law, Criminal Procedure, Civil Law Torts


Link to This Definition
Did you find this definition of COMBINED RATIO helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary