What is PROSPECTIVE RATING?

A method of calculating the premiums or rates for a time in the future. This process takes into account any posses that have occured in the previous years that are used to calculate for future years.

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Related Legal Terms
PROSPECTIVE RATING PLAN, PROSPECTIVE RESERVE, EXPERIENCE RATING, PROSPECTIVE EARNINGS, PROSPECTIVE FINITE POLICY, PROSPECTIVE, PROSPECTIVE REIMBURSEMENT, RATING PROCESS, OPEN RATING, RETROSPECTIVE RATING


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