Insurance Terminology Loss Ratio
A higher loss ratio means lower profits for the insurance company and is therefore a problem for underwriters and investors alike.
Insurance terminology loss ratio. The name comes from section 203 b of the national housing act. The loss ratio added to the expense ratio creates the combined ratio which is a reflection of the overall profitability of the company s underwriting. Loss ratio method used to determine an insurance company s success in covering current losses out of current premium income. For insurance the loss ratio is the ratio of total losses incurred paid and reserved in claims plus adjustment expenses divided by the total premiums earned.
Loss provisions general term used to describe policy conditions that specify what the insured and insurer must do after a loss. The consignee makes his own insurance arrangements for the goods. Another firm who collected 100 000 and paid 95 000 in claims would have a loss ratio of 95 percent. The loss ratio is a simplified look at an insurance company s financial health.
Glossary of insurance terms 203 b limit. A technique used to establish retention in an excess of loss reinsurance treaty in which retention levels are reduced after each subsequent occurrence. Loss of use insurance policy providing protection against loss of use due to damage or destruction of property. A sale term relating to goods.
The dollar limit for how much of a home s value can be used to determine the amount of money you can get from a federally insured home equity conversion mortgage reverse mortgage. Loss payable clause coverage for third party mortgagee in case of default on insured property secured by a loan that has been lost or damaged. The ratio of dividends to policyholders to net premiums earned. A loss ratio determined from the statistics of a number of preceding years in order to assess the premium to be charged to the reinsured in connection with excess loss reinsurance.
The policyholder dividend ratio is a measurement of the profitability of an insurance company or the. Determined by dividing incurred losses by earned premium.
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