loss ratio

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  • noun

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the ratio of the annual claims paid by an insurance company to the premiums received

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For employers with employees in more than one state, the applicable medical loss ratio will be determined based on the state where the policy was issued or delivered as stated in the contract.
Consistent with NAIC recommendations, this regulation allows insurers to add to their medical loss ratio a "credibility adjustment" when the insurer's medical loss ratio for a market within a state is based on less than 75,000 people enrolled for an entire calendar year.
If, on the other hand, a company doubled its prices while holding all else constant, then there would be a negative relationship between premium growth and the loss ratio because the same customers would be paying twice the amount of premium while having the same exposure to loss.
As shown by the following actual examples, these carriers clearly are sacrificing loss ratios for growth:
If done correctly, this adjustment process makes the loss ratio for the insurer constant across all groups of drivers, with no group being charged premiums disproportionate to its anticipated losses.
For example, if people expected the first quarter's loss ratio to increase from 80 percent to 85 percent, then the contract price would increase from $20,000 to $21,000.
The market's loss ratio saw a small improvement as a result of rate action
From January 2013 through December 2013, monthly incurred loss ratios ranged from a low of 67 percent in August to a high of 123 percent in December.
The report arrives at its loss estimate by projecting premiums collected in the 12 states along with the federal multi-peril crop insurance (MPCI) program loss ratio for 2012.
The Credit Life people got it right when they deal with the loss ratio regulation.
The loss ratio refers to the percentage of health insurance premium costs used to pay medical claims rather than administrative expenses.
For example, in the four states with the highest mean catastrophe loss ratio during the sample period, the median R-squared for homeowners insurers in each state exceeds fifty percent, and the median R-squared exceeds seventy five percent in three of these states.
Highest loss ratio is shown by Premier Insurance at 101%, due to negative premiums and high O/S claims.
But the state's overall individual health loss ratio also increased, to 92.