Experience Rating

In the Commercial Auto menu, click Experience Rating. To move between Liability and Physical Damage coverages, click either the search arrow for a list, or the small arrow to the left of search to view coverages sequentially.

1. Enter Number of Experience Periods.  This field will default to 3.

2. At Loss Development Factors, enter the appropriate months of development to be applied to the experience periods.  The default values for this field is 24/36/48 Months which may be changed by selecting a different value from the list.

3. Enter the product to determine the type of loss development factor table that will be used.

4. In the Experience Periods block heading, click either the search arrow for a list or the small arrow to the left of search to enter an experience period.

5. For each experience period, enter data for the applicable losses

6. In the Commercial Auto action menu , select Calculate Experience Mods. Clicking the Calculate Experience Mods button will calculate and apply the Experience Mod factors to the rating equations.  After performing this action, each time the risk is rated, the experience mod will be re-calculated and applied.  

7. Proceed to the Schedule Rating screen  or the Misc. menu if applicable. To proceed with issuing the policy, click here.