Sentences with phrase «risk classification»
Risk classification refers to the process of categorizing or sorting risks into different groups based on their characteristics or level of potential harm. It helps in understanding and managing risks more effectively by determining their severity, likelihood, and impact. By classifying risks, organizations can prioritize their efforts and resources towards mitigating or avoiding the most critical and significant risks. Full definition
In most cases, incidents that lead to high risk classification remain on the driving record for three to five years, depending on the specifics of the situation.
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Even drivers who are just pulling for standard risk classification have to have fairly clean credit histories.
For decades, we've based our insurance risk classification systems on simple factors such as age, sex, and geographic location.
The proposed risk classification system for each coverage and category of automobile insurance does not contain elements prescribed by the regulations for the purposes of this section.
In the end, your health will determine which risk classification you fall into, and that influences the cost heavily.
Insurance companies review each applicant for risk factors to assign a particular risk classification that affects your premium.
The types of coverage drivers choose to include in their policies make up the third broad risk classification category for auto insurance providers.
All told, there are many different ways a driver's risk classification with an insurance company could be changed.
Being overweight or obese can place you in a high risk classification or even declined.
Insurance companies commonly promote «anticipated rates» based on a standard risk classification.
R (Khatib) v Secretary of State for Justice [2015] EWHC 606: judicial review challenge to Secretary of State's decision to maintain the high escape risk classification of a convicted terrorist.
Most individuals who stuck to 5 healthy lifestyle factors since young adulthood, which included a healthy diet, a lean body mass index, not smoking, no alcohol consumption, and regular exercise, could stay in this low risk classification in middle age.
Be sure to get a low risk classification.
A majority (70 percent) of the 2,031 U.S. adults surveyed by the two groups say their likelihood of purchase would increase if carriers would conduct «simplified underwriting,» defined in the study as making use of publically available data for risk classification decisions for life insurance pricing, enabling purchase without requiring blood and fluids for medical testing.
The reason for this is complicated, but it has to do with the many different risk classifications insurance companies group policyholders in, based upon their health and lifestyle habits.
* For this survey, simplified underwriting is defined as making use of publically available data for risk classification decisions for life insurance pricing, enabling purchase without requiring blood and fluids for medical testing.
Likewise, nearly all of our challenges during the advancing half - cycle since 2009 can be traced to my 2009 decision to stress - test our market return / risk classification methods against Depression - era data, which inadvertently led us to overemphasize «overvalued, overbought, overbullish» syndromes that had reliably warned of market losses in prior market cycles across history.
A summary of the Canadian Securities Administrators» (CSA) Risk Classification Methodology and the investment objectives and strategies of each ETF can be found in the ETF's prospectus, available at franklintempleton.ca.
Dr Will Stones gave advice on pregnancy risk classification.
«New climate risk classification created to account for potential «existential» threats: Researchers identify a one - in - 20 chance of temperature increase causing catastrophic damage or worse by 2050.»
Follow - up for outcomes was done for patients who survived in first remission to the start of the fourth course without relapse and met low - risk classification criteria.
According to FICO, a major company that generates credit - based insurance scores, approximately 95 % of auto insurers and 85 % of homeowners insurers use credit - based insurance scores in states where it is a legally allowed underwriting or risk classification factor.
Your underwriting risk classification and premium rate is established by the insurance company's underwriter.
However applicants must successfully qualify for one of 5 risk classifications including:
When applying for life insurance, underwriters assess a number of factors in order to issue risk classification, including:
When it comes to the insurer's treatment of e-cigarettes, a couple of factors suggest a more conservative view of their impact on health — and therefore risk classification.
A. Getting several tickets in a short period of time or being involved in an accident can put you in a higher risk classification depending on the severity of the violation and cost of the accident.
The underwriters assign credits and debits to each applicant to determine the overall risk classification.
Underwriting, what the insurance company does to review applicants» insurability and place them in the right risk classification, will affect how much you pay for that policy — whether you get a cheap term life insurance quote or a higher rate.
Develop premium exposure by classifying payroll exposure according to ISO risk classifications.
Risk classification of patients and healthcare workers (Class A - proven, Class B - high risk, Class C - increased risk Class D - no risk)
In recent years, the life insurance industry has been adjusting their views and risk classifications in an attempt to keep up with these changes.
She is given the Standard risk classification.
The listed loans have different risk classifications and you are able to look at details of each loan proposal to aid in your investment decision.
On The Other Hand, there are certain features that generally cause a high risk classification:
Emphatically, the position of the S&P 500 relative to its 200 - day moving average is not what defines favorable market action or our overall market return / risk classification.
The primary feature driving our current market return / risk classification is that market internals and credit spreads have clearly deteriorated, following an extended period of extremely overvalued, overbought, overbullish conditions.
If market internals and credit spreads improve materially, the return / risk classification we identify will also change.
The strongest expected market return / risk classifications we identify emerge when a material retreat in valuations is joined by an early improvement in market action.
At the August peak (see Looking Ahead to a Bullish Outlook, and What Will Define It), I noted that the position of the S&P 500 relative to its 200 - day moving average is not what defines favorable market action or our overall market return / risk classification.
Nearly all of that net loss occurred in the 8 % of history that matches the market return / risk classification we presently identify.
It enables lenders to obtain a risk classification without traditional manual underwriting.
Life insurance companies decide who pays how much for life insurance based on risk classifications.