Question: Why is experience modification important in calculating insurance premiums? It decreases premiums for large corporations It adjusts premiums based on the company's historical claims experience

Why is experience modification important in calculating insurance premiums?
It decreases premiums for large corporations
It adjusts premiums based on the company's historical claims experience
It increases premiums based on employee satisfaction
It adjusts premiums based on economy-wide factors
Why is experience modification important in calculating insurance premiums? It decreases

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The cheque-clearing office of Pay Loans Company is responsible for processing all cheques that come to the company for payment. Managers at the company believe that variable overhead costs are...

Q:

Does anyone know where this article come from? I wanna cite it as a resource!! Thanks! 41 Auditing Insurance Companies 41.1 OVERVIEW OF THE INDUSTRY (a) Structure of the Industry, (b) Reinsurance,...

Q:

Does anyone know where this article come from? I wanna cite it as a resource!! Thanks! 41 Auditing Insurance Companies 41.1 OVERVIEW OF THE INDUSTRY (a) Structure of the Industry, (b) Reinsurance,...

Q:

Does anyone know where this article come from? I wanna cite it as a resource!! Thanks! 41 Auditing Insurance Companies 41.1 OVERVIEW OF THE INDUSTRY (a) Structure of the Industry, (b) Reinsurance,...

Q:

Old MathJax webview please complete 1 2 and 3( there is no additional information) thanks **UPDATED QUESTIONS*** 1) what discourses or information, if any, does the company include about their...

Q:

Thank u guys:) This is the reference pages but the questions are the last 3 pictures . . . . Craft - Mason Wage rate VET $29.00 Hours worked 50 hours per week for 20 weeks and 40 hours per week for...

Q:

answer problem 1 2 and 3 **UPDATED QUESTIONS*** 1) what discourses or information, if any, does the company include about their products in inventory. What key details are important to understanding...

Q:

In his 2009 paper titled ?Market and Political/Regulatory Perspective on Recent Accounting Scandals?, Ray Ball discusses accounting scandals in 2001 and 2002. Provide a summary of the market...

Q:

6.In his 2009 paper titled ?Market and Political/Regulatory Perspective on Recent Accounting Scandals?, Ray Ball discusses accounting scandals in 2001 and 2002. Provide a summary of the market...

Q:

Synthesis: Significance and Implications of Alternative Accounting Principles Learning Objectives Web Refer to Figure 1. Circle A indicates the universe of possible accounting principles. The dashed...

Q:

(1) Income Statement Referencing this week?s readings and lecture, address the following: ? What are the two causes of an increasing or decreasing sales number? ? Discuss all the reasons that might...

Q:

Explain whether each of the following should be Recognised, Disclosed or Ignored when Daleside Co is preparing the financial statements for the year ended 31 December 20X9. Assume that all amounts...

Q:

Consider the series where the signs come in pairs. Does it converge? -- + +

Q:

The two main components of employee compensation payroll cost and government tax direct and indirect financial payment regular pay, bonuses salary, wages, and overtime pay tips

Q:

Your manager requires that you, as cashier, immediately enter each sale. Recently, lunch hour traffic has increased and the assistant manager asks you to avoid delays by taking customers' cash and...

Q:

Completing: Designing for Readability; Media Skills: Blogging [LO-5] Compare the home pages of Bloomberg and MarketWatch, two websites that cover financial markets. What are your first impressions of...

Q:

Completing: Designing for Readability [LO-5] Visit http://real-timeupdates.com/bce7, click on Student Assignments, and then select Chapter 5 Designing for Readability Activity. Download and open the...

Q:

Completing: Revising for Readability [LO-2] Rewrite the following paragraph to vary the length of the sentences and to shorten the paragraph so it looks more inviting to readers. Despite the rapid...