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This refers to the number of times there occur an accident. The frequency is calculated during the time of the insurance policy. The actuary normally computes the frequency of accidents to help determine possible losses.
It should be noted that the phrase may not actually mean the number of times or frequency an accident really does occur but the number of times an accident may occur due to the prediction of the actuary. Premiums can also be accurately and appropriately paid using this principle.
It should be noted that the phrase may not actually mean the number of times or frequency an accident really does occur but the number of times an accident may occur due to the prediction of the actuary. Premiums can also be accurately and appropriately paid using this principle.
Posted in: Glossary of Auto Insurance (A)
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