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pychu [463]
3 years ago
5

Experience rating utilizes _______ in determining the rate the insurer will charge for group coverage in each year of coverage.

Social Studies
1 answer:
nordsb [41]3 years ago
5 0

The correct answer would be, Actual loss experience of the group.

Experience rating utilizes Actual loss experience of the group in determining the rate the insurer will change for group coverage in each year of coverage.

Explanation:

When an employer adjusts premium for workers' compensation coverage based on the loses the insurer has experienced from that employer, then this adjustment is called as the experience modifier or experience rating.

In this rating, at the end of the year, the insurer charge for group coverage the actual loss experienced due to that group.

This rating helps the insurer to determine that a particular policymaker will file a claim or not.  It also helps in determining which company has produced more workers' claims in a specified period of time.

Learn more about Insurance Coverage at:

brainly.com/question/2501031

#LearnWithBrainly

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In interdependence theory, the term <u>rewards </u>refers to anything within an interaction that is desirable and welcome and that brings enjoyment or fulfillment to the recipient.

Costs, on the other hand, are painful, unpleasant experiences.

According to the interdependent theory, people frequently show generosity to those who they depend on in the pursuit of positive outcomes since doing so is rational (and worthwhile).

According to the social exchange theory known as interpersonal interdependence, which is described as "the process through which interacting people impact one another's experiences," interpersonal relationships are defined through this process.

The Social Psychology of Groups, written in 1959 by Harold Kelley and John Thibaut, contained the first publication of interdependence theory.

This book presented crucial definitions and concepts crucial to the creation of the interdependence framework, drawing inspiration from social exchange theory and game theory. Specifically, Interpersonal Relations, their second work.

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