On page 132 of foundations of cas a definition is given for standard
premium in the ncci retro plan; did I interpret this definition
correctly?
1. Standard premium IS modified for experience rating
2. Standard premium includes loss constants, includes minimum premium
3. Standard premium does not include premium discount
4. standard premium does NOT include expense constants.
Statement 4 is the one I am unsure about.
Bill
billg5@yahoo.com
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