What does Loss Constant mean? Read on to discover the definition & meaning of the term Loss Constant - to help you better understand the language used in insurance policies.
A flat amount added to the premium of a workers compensation policy (after experience rating if applicable) on accounts with premiums of less than $500. It is designed to offset worse-than-average loss experience of the smaller insureds.
We hope the you have a better understanding of the meaning of Loss Constant.