GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Loss Conversion Factor

In retrospective rating, a factor used to cover claim adjustment expenses and the cost of the insurer’s or third-party claim administrator’s services.

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Approved for 1 Hour of State Reported CE Credit in AR, AZ, CA, DE, CO, FL, GA, IA, IL, IN, KS, KY, LA MA, MD, MI, MO, MN, NC, NE, NJ, NY, OH, OK, OR, PA, PR, SC, TN, TX, UT, WA and WI