Words of On-leveling
This factor adjusts historical losses to the latest approved statutory benefit level.
What is loss on-level factor?
If PY 2018 off-balance is 0.937 and Target off-balance is 0.944, this is the off balance adjustment factor.
What is 1.007?
This occurs when a state does not on-level its premium.
What is double counting?
Less accurate than the extension of exposures, we use this method to on-level financial call premium.
What is the parallelogram method?
If loss based assessment is 0.5% and loss adjustment expense is 19.0%, this is the loss based expense removal factor.
What is 0.837?
Premium weights are calculated using this data source.
What is Units?
This is the weighted average of experience rating modification factors including intrastate and interstate mods, as well as non-rateds.
What is off-balance?
This is the expense constant removal factor if $12,845,477 is the premium excluding expense constant, 2,086 is the policy count, and $160 is the expense constant.
What is 0.975?
If the state includes an assigned risk market, this on-levels template should be used.
What is MSA?
NCCI's standard market share method that removes the impact of all assigned risk programs from the statewide premium.
What is the 0% market share methodology?
This is the market share adjustment factor if the actual on-level balanced market share is 8%, the target market share is 5% and the impact of pricing programs is 1.5.
What is 0.990?
Not yet approved benefit level changes are not included in the on-level calculation, but can be found in the filing here.
Where is Exhibit I?