Glossary Home | Glossary Entry Sources | Submit New Term or Provide Feedback

rate (of premium)

Owned by Dennis Daggett (Deactivated)
2018-02-16
1 min read

Rate is the percent of liability that is charged, which creates the premium the insured will pay the insurance company for coverage against perils that cause loss. The dollar amount per insured unit or percentage rate per dollar of liability that is needed to pay anticipated losses and provide a reasonable reserve.

Authorization Path: 1.1.1.1.1.0

Glossary Home | Glossary Entry Sources | Submit New Term or Provide Feedback