Retrospectives
"The distinction between past, present, and future is only a stubbornly persistent illusion." -Albert Einstein
The object of a retrospective ratings plan is to adjust the premium for the insurance to which it applies on the basis of losses incurred during the period covered by that insurance. During the policy period, a standard premium is paid. The final "retro" premium is then calculated after the policy period expires. The insurer then issues a refund or requests additional payment.
Retrospective plans are particularly appropriate for businesses that are able to reasonably predict losses and loss patterns. This can be especially beneficial in that the insured is encouraged to reduce losses and is financially rewarded for their success.
Market Financial Group recognizes that customers often deserve to be rewarded for their efforts in reducing claims and losses. Our expansive retrospective platform offers this opportunity to you. Receptivity of this kind acts as a model for how we do business. By responding to your changing needs, we are able to provide you with the best insurance solutions in the industry.