[B015]

base rate

The manual or starting rate for a specific coverage, based on a normal or average for class risk. Deviations are made from the base rate for risk-specific characteristics, hazards, exposures, protection or lack of, and individual loss experience. After all credits and debits have been computed, a final rate is determined, which is used to calculate the coverage premium.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100