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
Meanings of Merit:
The quality of being good or worthy is especially admirable.
Reward or reward (something, especially a reward, punishment or attention)
Sentences of Merit
Great value composer
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
Meanings of Rating:
Evaluation or evaluation based on the quality, quality or performance of a person or thing.
Sentences of Rating
The hotel has regained its five star rating
Synonyms of Rating
classification, class, grade, position, standing, ranking, placing, categorization, rank, status, designation, grading, category