GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Experience Modifier

Factor developed by measuring the difference between the insured’s actual past experience and the expected experience of the class. The factor may be either a debit or credit (greater than or less than 1.0). When applied to the manual premium, the experience modification produces a premium that is more representative of the actual loss experience of an insured.

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