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Ninetieth Annual Report |
May 15, 2007 |
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EXPERIENCE
RATING
The
Rating Division is responsible for the review of statistical data in the
processing of experience ratings and their revisions.
It is required to issue rating
data to insurers and other authorized parties.
The
number of risks which qualified for experience rating in 2006 was
93,527, a decrease of 3.5% from the 96,899 qualifying for rating in
2005.
There were 89,060 new and renewal experience ratings prepared and issued
in calendar year 2006 compared to 89,096 in 2005.
The overall activity during 2006 is illustrated by the following
graph.
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EXPERIENCE RATING
ACTIVITY
DURING 2006
|
Percentage of
Ratings Issued in Relation
To Effective
Date - Calendar Year 2006 |
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After Effective
Date |
Prior to
Effective Date |
More Than Thirty
Days |
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Prior To
Effective Date |
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1 to 30 Days |
30 to 60 Days |
More than
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60 Days |
2004 |
2005 |
2006 |
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4.1% |
19.1% |
25.4% |
51.4% |
76.7% |
77.2% |
76.8% |
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Table IV shows the historic statistical results of calculated
experience ratings on the basis of the effective year of rating.
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Twenty-Five Year Historic Record
of Experience Rating Results
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Ratings |
Premium |
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During Experience Period |
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Eff. |
Number |
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Ratio: Adj. |
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Year |
Calculated |
Manual |
Adjusted |
Manual |
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1982 |
50,899 |
2,277,914,220 |
2,018,711,010 |
0.886 |
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1983 |
46,006 |
2,079,649,401 |
1,916,350,942 |
0.921 |
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1984 |
44,467 |
1,966,323,323 |
1,838,053,910 |
0.935 |
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1985 |
42,727 |
1,772,822,537 |
1,671,274,975 |
0.943 |
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1986 |
44,489 |
1,716,886,779 |
1,620,573,487 |
0.944 |
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1987 |
48,377 |
2,066,892,242 |
1,892,721,377 |
0.916 |
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1988 |
54,958 |
2,500,094,755 |
2,255,979,321 |
0.902 |
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1989 |
52,411 |
2,400,709,097 |
2,271,640,130 |
0.946 |
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1990 |
66,247 |
2,736,852,208 |
2,598,569,338 |
0.949 |
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1991 |
73,747 |
3,270,965,375 |
3,119,317,828 |
0.954 |
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1992 |
69,533 |
3,703,933,596 |
3,421,685,950 |
0.924 |
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1993 |
72,640 |
4,250,309,586 |
4,063,216,350 |
0.956 |
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1994 |
73,762 |
4,486,969,855 |
4,251,038,829 |
0.947 |
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1995 |
75,369 |
4,688,577,235 |
4,282,807,608 |
0.913 |
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1996 |
75,999 |
4,631,730,529 |
4,214,318,712 |
0.910 |
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1997 |
75,443 |
4,268,646,155 |
3,891,935,525 |
0.912 |
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1998 |
74,946 |
3,951,830,819 |
3,671,578,610 |
0.929 |
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1999 |
74,130 |
3,884,644,847 |
3,607,391,660 |
0.929 |
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2000 |
75,269 |
4,059,350,871 |
3,781,586,890 |
0.932 |
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2001 |
77,189 |
4,213,562,828 |
3,959,587,845 |
0.940 |
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2002 |
80,965 |
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