What Does Risk Class Mean?

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What does Risk Class mean? Read on to discover the definition & meaning of the term Risk Class - to help you better understand the language used in insurance policies.

Risk Class

Risk Class

A risk class (RC), in the context of insurance, is a group of either companies or individuals that share various traits. This group provides information to the insurance company that is important to the decision-making process when it comes to the approval of policies.

We hope the you have a better understanding of the meaning of Risk Class.

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