What is the Definition of Substandard Premium Rates?
What is the Definition of Substandard Premium Rates?
The premium rates charged insureds who are classified as substandard risks. Also known as special class rates.
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 Annuity?
What is the Definition of Substandard Premium Rates?
You can find random definition and meaning of insurance terms below:
What is the meaning of Other Liability
coverage protecting the insured against legal liability resulting from negligence, carelessness, or a failure to act resulting in property damage or personal injury to others.
What is the meaning of Other Underwriting Expenses
allocable expenses other than loss adjustment expenses and investment expenses.
What is the meaning of Owner Occupied
homeowners insurance sold to owners occupying the described property.
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