A fixed amount of the net profit of a reinsurance policy that must be given to the ceding insurer under profit sharing at the year's end.
Related information about experience refund:
- experience refund - Insurance Glossary
experience refund - Under a reinsurance agreement, that part of the profits that is returned to the cedent after recognition of contingency reserves, loss ...
- Experience Refund: Definition from Answers.com
Return of a percentage of premium paid by a business firm if its loss record is better than the amount loaded into the basic premium.
- Experience Refund
Definition of "Experience Refund". Amount returned by an insurer to a group policyholder when the financial experience of a particular group (or class to which ...
- experience refund - Business Definition
experience refund definition: The return of a portion of premiums to a class of policyholders when insured losses have been less than anticipated....
- What is experience refund? definition and meaning
Definition of experience refund: A fixed amount of the net profit of a reinsurance policy that must be given to the ceding insurer under profit sharing at the year's ...
- Reinsurance Glossary - Errors and Omissions Clause - FindaLink.net
Experience Refund: The portion of a reinsurance premium that is returned to the ceding company when claims experience is better than had been expected.
- What is experience dividend? definition and meaning
... be better than what was anticipated at the time premium was computed. Also called experience rating refund, experience refund, or retroactive rate reduction.
- What is EXPERIENCE REFUND? - The Law Dictionary
Definition of EXPERIENCE REFUND: The amount of PREMIUM an INSURER returns to an INSURED if the loss record is better than the amount indicated by the ...