CPCU 520: Insurance Operations 2nd Editions/Chapter 5: Risk Control and Premium Auditing
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A condition that increases the likelihood that a person will intentionally cause or exaggerate a loss.
Morale hazard (attitudinal hazard)
A condition of carelessness or indifference that increases the frequency or severity of loss.
Exposure unit (unit of exposure)
The unit of measure (for example area, gross receipts, payroll) used to determine an insurance policy premium.
An audit conducted by an insurance advisory organization or bureau to check the accuracy of insurer's premium audits.
Premium pay (shift differential)
A payroll system that increases the regular hourly wage rate for the night shift, or other special conditions.
The amount the primary insurer pays the reinsurer pending the determination of the actual reinsurance premium owed.
A rate multiplier derived from the experience rating computation.
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