Loss Sensitive Plan...: A workers compenssation rating plan where the final premium depends on the actual losses during the policy period. In risk management you would call this a risk financing technique. You'll find there are upper limits placed on the insured's costs when its losses are high. When losses are low the plan will require payment of a minimum premium. With this type of plan the risk financing costs will vary depending on the actual loss experience. A loss sensitive plan provides an incentive for insureds to emphasize safety and loss control activities.

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