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.
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.