Method And System For Determining Rate Of Insurance
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United States of America Patent
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N/A
Issued Date -
Feb 2, 2012
app pub date -
Jul 22, 2011
filing date -
Nov 21, 2006
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method and system for determining a rate of insurance for management liability coverage which determines a base premium, a limit/retention factor, shared limit credits, and other rating considerations. The limit/retention factor, shared limit credits, and rating considerations are applied to the base premium to ascertain a resultant premium. Another aspect of the disclosure provides a method for determining a shared limit credit when insured clients purchase multiple insurance coverages in a single policy or package of policies and subject to common limit of liability.
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