Investopedia

Continue to Site »

Bureau Rate

Filed Under » , , , ,
Dictionary Says

Definition of 'Bureau Rate'

A standard price per unit of insurance set by a state's insurance rating bureau, the association of all the insurance companies authorized to write particular kinds of insurance in that state. The different insurance companies in the state combine their data on claims and losses to improve the statistical soundness of insurance rates.
Investopedia Says

Investopedia explains 'Bureau Rate'

An insurance company may choose to charge a lower rate than the bureau rate. An example of how it might choose to charge a lower rate would be a persistency discount, or a discount given to a customer for keeping a policy in force with the same insurer for a particular number of years. Insurers also have the option to file for deviated rates, which must be first approved by their state's insurance department.

Articles Of Interest

  1.

    How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.

  2. The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.

  3. Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.

  4. The History Of Insurance

    The first written policy appeared in Hammurabi's Code. Find out how it evolved from there.

  5. Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.

  6. Financial Designations That Employers Require

    We break down the designations that are important to have if you want to work in the financial sector.

  7. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.

  8. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.

  9. Investing In Medical Equipment Companies

    Learn the basics about medical equipment companies and how investing in them can benefit growth and value investors alike.

  10. Tax Variations Of The HEART Act

    The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center