UK: 1. An all-round rate as distinct from differential rating. The term is sometimes incorrectly used to refer to a fixed premium. 2. A reinsurance premium applicable to the entire premium income derived from the cedant from the business ceded to the reinsurer as distinct from the rate applicable to excess limits.
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In reinsurance, a percentage rate applied to a ceding company’s premium writings for the classes of business reinsured to determine the reinsurance premiums to be paid the reinsurer.
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REINSURANCE: In Reinsurance, a percentage rate applied to a ceding company’s premium writings for the classes of business reinsured to determine the reinsurance premiums to be paid the reinsurer. (ii) A reinsurance premium rate based on the entire premium income received by the ceding company from business ceded to the reinsurer, as distinguished from a rate applicable only to the excess limits premium.
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MEDICAL,USA: Method of payment in which all providers that render the same medical service are paid at the same rate. Also called uniform rate .
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UK: scheme Defined benefit scheme where the ultimate pension benefit depends on how long the member has been in the scheme. The pension accrues at a flat rate for each year regardless of earnings.
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REINSURANCE,REFERENCE: See: Rating