[[Actuarial Notes Wiki|Wiki]] / [[Exam 5 (CAS)]] / **Rate Change** ## Definition ==Rate Change== is the percentage modification to insurance rates, either the indicated change from analysis or the implemented change after business judgment. ## Types ### Indicated Change From actuarial analysis before adjustments ### Implemented Change Actual change put into effect, may differ from indicated ### On-Level Factor ``` Adjustment for historical rate changes: On-Level Factor = Current Rate / Historical Rate ``` ## Related Concepts - [[Overall Rate Level Indication#Definition]] - [[On-Level Premium#Definition]] ## References - Werner & Modlin, Chapter 7