Definitions for "Class Rating"
Keywords:  fra, mph, railroads, usa, risks
FRA rating for sections of railroads in the USA Rating Speed Allowed (MPH)
Rate-making method in which similar insureds are placed in the same underwriting class and each is charged the same rate. Also called manual rating.
A premium rate determination in which all risks with similar characteristics are charged the same rate.
The grouping, based on common characteristics, such as value per unit, weight per unit of volume, or susceptibility to damage, to which a material is assigned. No consideration is made for frequency, direction, or volume of movement.