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EXPENSE LOSS COST MULTIPLIER WORKSHEET FOR
GROUP REINSURANCE FUND
USING RATING ORGANIZATION LOSS COSTS
MULTIPLIER CALCULATION
WORKSHEET AND INSTRUCTIONSDEPARTMENT OF LABOR & INDUSTRY
BUREAU OF WORKERS
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How to fill out expense loss cost multiplier
How to fill out expense loss cost multiplier
01
Determine the total expenses incurred for a particular project or time period.
02
Calculate the total loss or cost associated with those expenses.
03
Divide the total loss or cost by the total expenses to get the expense loss cost multiplier.
Who needs expense loss cost multiplier?
01
Insurance companies may use expense loss cost multiplier to assess the financial impact of claims.
02
Businesses may use expense loss cost multiplier to understand the efficiency of their expenses.
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What is expense loss cost multiplier?
The expense loss cost multiplier is a factor used to adjust an insurance company's loss and loss adjustment expense reserves to reflect the expenses associated with settling claims.
Who is required to file expense loss cost multiplier?
Insurance companies are required to file expense loss cost multipliers as part of their regulatory reporting requirements.
How to fill out expense loss cost multiplier?
Expense loss cost multipliers are typically filled out by insurance companies following established guidelines and reporting templates provided by regulatory bodies.
What is the purpose of expense loss cost multiplier?
The purpose of the expense loss cost multiplier is to accurately reflect the expenses incurred by insurance companies in settling claims and managing losses.
What information must be reported on expense loss cost multiplier?
Expense loss cost multipliers typically require reporting of various loss and loss adjustment expense reserves, as well as detailed expense data.
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