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Exposure Rating
A system for premium development and risk classification where
filed rates, rules and classifications are applied against premium
exposures, as determined by the manuals of insurance developed
independently by insurance companies or by independent rating
organizations, such as the Insurance Services Office, Inc. (ISO).

Exposure Year Earned Premium
The projection of written premium to ultimate.

Filings
Formal documents submitted to state regulatory agencies by
insurance companies and rating organizations containing rates,
rate-making factors, loss development factors, and the rules for
applying such rates and factors.

Frequency
The number of claims (or occurrences) per exposure unit;
sometimes incorrectly used to refer to the number of claims or
occurrences; a relative, not an absolute, measure.

Full-Value Reserve
An undiscounted provision for the payment of outstanding losses

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