Are you having trouble answering the question “If an insurer uses a general rate at the beginning of the year and then modifies the rate to reflect a debit or credit based on actual losses sustained during the policy period, what type of rating system is the insurer using?”? You don’t have to worry about it anymore. Azanswer team is here with the correct answer to your question.
If an insurer uses a general rate at the beginning of the year and then modifies the rate to reflect a debit or credit based on actual losses sustained during the policy period, what type of rating system is the insurer using?
a. Discriminatory rating
b. Individual rating
c. Manual rating
d. Retrospective rating
Answer: D
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