NAC686B.415. “Prospective loss costs” defined.

Latest version.

“Prospective loss costs” means the portion of a rate that is based on historical aggregate losses and loss adjustment expenses which are adjusted to their ultimate value and projected to a future point in time. Except as otherwise provided in this section, the term does not include provisions for expenses or profit.

(Added to NAC by Comm’r of Insurance, eff. 6-20-90)

                    
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