What does Calendar Year Experience mean? Read on to discover the definition & meaning of the term Calendar Year Experience - to help you better understand the language used in insurance policies.
Calendar Year Experience
Incurred losses and loss adjustment expenses (LAE) for all losses (regardless of when reported) related to a specific calendar year divided into the accounting earned premium for that same period. Once calculated and established, this amount does not change.
We hope the you have a better understanding of the meaning of Calendar Year Experience.