BURNING COST RATIO
\bˈɜːnɪŋ kˈɒst ɹˈe͡ɪʃɪˌə͡ʊ], \bˈɜːnɪŋ kˈɒst ɹˈeɪʃɪˌəʊ], \b_ˈɜː_n_ɪ_ŋ k_ˈɒ_s_t ɹ_ˈeɪ_ʃ_ɪ__ˌəʊ]\
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An insurance-industry calculation of excess losses divided by total subject premium. The burning cost ratio is an experience-based insurance-rating method commonly used in determining rates for excess of loss reinsurance, or the insurance that insurance companies buy to protect themselves against total claims that exceed their total premiums collected.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.