What does Exposure Base mean? Read on to discover the definition & meaning of the term Exposure Base - to help you better understand the language used in insurance policies.
The basis to which rates are applied to determine premium. Exposures may be measured by payroll (as in workers compensation or general liability), receipts, sales, square footage, area, or man-hours (for general liability), per unit (as in automobile), or per $1,000 of value (as in property insurance).
We hope the you have a better understanding of the meaning of Exposure Base.