Merit Rating

Merit Rating,

What is The Definition of Merit Rating?

  • Definition of Merit Rating: A form of automatic pricing that takes into account the insurer's past and expected experiences when setting rates.

  • Tariff setting system based on known experience with individual risks or large groups of similar risks.

Literal Meanings of Merit Rating

Merit:

Meanings of Merit:
  1. The quality of being good or worthy is especially admirable.

  2. Reward or reward (something, especially a reward, punishment or attention)

Sentences of Merit
  1. Great value composer

  2. The results are encouraging to guarantee further investigation

Synonyms of Merit

deserve, rate, be worth, level, be worthy of, warrant, worth, excellence, value, meritoriousness, credit, be deserving of, deservingness, be entitled to, quality, grade, justify, account, have a right to, have a claim on

Rating:

Meanings of Rating:
  1. Evaluation or evaluation based on the quality, quality or performance of a person or thing.

  2. Severe reprimand

Sentences of Rating
  1. The hotel has regained its five star rating

Synonyms of Rating

classification, class, grade, position, standing, ranking, placing, categorization, rank, status, designation, grading, category