retrospective rate
noun
: an insurance premium rate computed for a particular risk at the close of the period of coverage by adding the expense constant and the actual losses incurred with the final rate being subject to an agreed maximum
Dictionary Entries Near retrospective rate
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“Retrospective rate.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/retrospective%20rate. Accessed 28 Nov. 2024.
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