A statistical measure of the reliability of experience data, based on the size of the sample.
***
Degree of statistical confidence which properly can be ascribed to data on part losses as a predictor of future losses. In general, credibility increases with the number of past losses studied, the similarity of the exposures giving rise to part losses and, with respect to predictions of future losses, the absence of significant changes in future conditions.
***
MEDICAL,USA: Percentage weight given to an insured group’s past claim history. It is done to set the premium for future expected claims or to determine claim charges for experience refund purposes.