Compare NCCI and ISO Experience Rating Flashcards
ISO vs. NCCI: Experience period
Both use 3 years, lagged 1 year
ISO vs. NCCI: Experience mod
ISO: Add 1 to put in factor form
NCCI: Already in factor form
ISO vs. NCCI: Credibility
ISO: Up to 100% of limited loss experience
NCCI: Less than 100%
ISO vs. NCCI: Plan type
ISO: No-split
NCCI: Single-split
ISO vs. NCCI: ALAE treatment
ISO: Included
NCCI: Not included
ISO vs. NCCI: Other expenses
Both exclude other expenses
ISO vs. NCCI: Trending of losses
Both detrend expected loss only
ISO vs. NCCI: Benefit levels
ISO: Not relevant
NCCI: Adjusted in expected losses
ISO vs. NCCI: PAFs
ISO: Used for claims-made
NCCI: No claims-made policies
ISO vs. NCCI: Loss development
ISO: Compares ultimate losses
NCCI: Compares undeveloped losses
ISO vs. NCCI: Excess loss definition
ISO: Above basic limits and above MSL
NCCI: Above split point
ISO vs. NCCI: Use of excess losses
ISO: Ignored in calculation
NCCI: Used in calculation
ISO vs. NCCI: Loss limits
ISO: Basic limits and MSL
NCCI: SAL, multi-claim, and disease
ISO vs. NCCI: Responds to
ISO: Primarily frequency (losses are capped)
NCCI: Frequency and severity