When computing workers compensation experience modifications, the factor taken from actuarial tables used to calculate total expected losses for the specific classification given the audited exposures.

An accounting concept; expense (short-term) or capitalizing (long-term) of intermediate term costs (development costs); writing off the value of an intangible asset over its useful life; the periodic reduction in a long-term debt. Also, used to describe the periodic reduction...

Any conscious action or inaction to minimize at the optimal cost, the probability, frequency, severity, or unpredictability of loss; a step of the Risk Management Process.

Each unit is assigned costs in a layered allocation model or a blended model that balances a mix of exposure-based and experience-based allocations based on relative percentages of exposures or experience.

Assets with an expected life in excess of one year.