Loss Constant

Loss Constant,

Loss Constant:

  1. Loss Constant can be defined as, A lump sum has been added to the account with a premium of less than Rs 500 on the workers' compensation insurance premium (which is based on experience). The goal is to compensate for losses that are even worse than the policyholder's average.

  2. Additional lower fees are charged on employee compensation insurance to cover the exceptionally high loss rate on relatively lower premium contracts. Continuous loss fees vary by rating, usually between $ 5 and 00 20.00, and are waived if the award is more than $ 500.

Literal Meanings of Loss Constant

Loss:

Sentences of Loss
  1. Avoid wasting time

Synonyms of Loss

dropping, forgetting, misplacement, mislaying, overlooking

Constant:

Meanings of Constant:
  1. Irreversible situation or circumstances.

  2. It lasts for a long time.

Sentences of Constant
  1. The state of war is stable

  2. Persistent pain

Synonyms of Constant

unchanging factor, continual, sustained, continuous, persistent, unchanging situation, unchanging state of affairs, given, round-the-clock, abiding

Loss Constant,

What Does Loss Constant Mean?

A flat fee is included in a small worker's compensation policy premium to cover the higher rate of loss