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Rate making, or insurance pricing, is the determination of rates charged by insurance companies. The benefit of rate making is to ensure insurance companies are setting fair and adequate premiums given the competitive nature.
Insurance companies typically charge higher rates for drivers under 25 based on statistical data showing a significantly higher risk of accidents and insurance claims for this age group.
The seasonally adjusted annual rate (SAAR) is a rate that is adjusted to take into account typical seasonal fluctuations in data and is expressed as an annual total. SAARs are used for data affected by seasonality , when it could be misleading to directly compare different times of the year.
Seasonal adjustment or deseasonalization is a statistical method for removing the seasonal component of a time series. It is usually done when wanting to analyse the trend, and cyclical deviations from trend, of a time series independently of the seasonal components.
Auto and home insurance rates can increase without warning for various reasons, but as Lane’s experience shows, you have more control over them than you realize. Reasons insurance rates change ...
Gov. Gavin Newsom is proposing a bill that would require the state Department of Insurance to review rate-hike requests from home insurers within 60 days as companies pull back from the market due ...
Car insurance rates have spiked in the US to a stunning $2,150/year — but you can be smarter than that. Here's how you can save yourself as much as $820 annually in minutes (it's 100% free)
In time series data, seasonality refers to the trends that occur at specific regular intervals less than a year, such as weekly, monthly, or quarterly. Seasonality may be caused by various factors, such as weather, vacation, and holidays [1] and consists of periodic, repetitive, and generally regular and predictable patterns in the levels [2] of a time series.