An insurer's marketing and administrative expenses added to the pure premium being charged. See also Pure Premium.
Insurance term for the total amount which is added to the net premium in considerations of all of the insurer's costs of doing business.
This describes the extent to which an individual is charged more than the "average" for their insurance. This is common in personal insurance.
The overhead or administrative expenses of an insurer that is included in the cost of a policy.
non- cellulose material added to the pulp, e.g. smalts added to rags to make them appear whiter or china clay added to bulk up the fibre and act as an aid to ink retention.
The extent to which an individual is charged more than the "average" for his/her insurance.
The amount added to net premiums to cover the companys operating expenses and contingencies. The loading includes the cost of securing new business, collection expenses, and general management expenses. Precisely: The excess of the gross premiums over net premiums.
1) As an insurance term, an amount added to an insurance "pure risk" rate applicable to a class of risk, either to compensate the insurer for additional hazards present with an individual risk, or for the insurer's expenses, or both. 2) In marine language, the process of placing merchandise or cargo on board a ship or vehicle.
An additional rate or premium added to a basic rate or premium because of the additional risk involved for the insurance company.
The total amount added to an insurance policy's net premium to cover all of the insurer's costs of doing business.
A charge that the insurer adds to the net premium to produce the gross premium actually paid by the policyowner. The loading is designed to cover the operating expenses of the company, to compensate the company for the loss of income when policies lapse and to provide margins for profits and contributions to surplus.
The amount that must be added to the pure premium for expenses, profit, and a margin for contingencies. See Expense Loading.
The amount added to net premiums to cover the company's operating expenses and contingencies. Loading includes, among other things, the cost of securing new business, collection, and general management expenses.
The placing of goods on a vessel for carriage / Charging a higher rate of premium than normal, because of some adverse feature of an insurance / An addition to the pure premium (q.v.) to allow for expenses, contingencies or profit desired.
The process otherwise known as "filling" or "stuffing". Loading is adding such materials as glucose and magnesium chloride, which are leather conditioners erroneously referred to as adulterants, but which are really necessary for conditioning leather to modern shoe machinery.
this is a term used to refer to the way in which insurance companies will charge certain clients higher premiums than others. A smoker, for example, may be susceptible to loading as they represent a higher risk.
An additional factor which is taken into account in premium rating or loss reserving (e.g. to include an element for reinsurer's profit in the premium quotation or to increase outstanding claims estimates to cover IBNR losses). See also REVALUATION OF LOSSES, UNUSED EXPOSURE and VARIANCE LOADING.
Those elements added to a premium to allow for insurer's expenses.
The amount added to the pure insurance cost to cover the cost of the operations of an insurer, the possibility that losses will be greater than statistically expected, and fluctuating interest rates on the insurer's investments. The "pure" insurance cost is that portion of the premium estimated to be necessary for losses.
There can be deemed a standard or average rate for a persons insurance, the loading is effectively what an individual will be charged in excess of this for their insurance. An example of this could be gender in respect of car insurance as women are generally charged less than a man with the same risk details.
an amount added to the basic rate or premium to cover the expense to the insurance company of securing and maintaining the business. This term is also used in connection with Inland Marine insurance, as the amount added to the fire rate to cover additional perils.