What is the Definition of Combined Ratio?
What is the Definition of Combined Ratio?
Percentage of each premium dollar a property/casualty insurer spends on claims and expenses. A decrease in the combined ratio means financial results are improving; an increase means they are deteriorating.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Combined Ratio?
Check out other definition of insurance terms below:
What is the Meaning of DEFINED BENEFIT PLAN In Insurance Terms?
A retirement plan under which pension benefits are fixed in advance by a formula based generally on years of service to the company multiplied by a specific percentage of wages, usually average earnings over that period or highest average earnings over the final years with the company.
What is the Meaning of DEFINED CONTRIBUTION PLAN In Insurance Terms?
An employee benefit plan under which the employer sets up benefit accounts and contributions are made to it by the employer and by the employee. The employer usually matches the employee’s contribution up to a stated limit.
What is the Meaning of DEMAND DEPOSIT In Insurance Terms?
Customer assets that are held in a checking account. Funds can be readily withdrawn by check, “on demand.”
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