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Form LC-2 P&C Expense Constant Supplement Calculation of Loss Cost Multiplier With Expense Constants - Kentucky
What Is Form LC-2 P&C?
This is a legal form that was released by the Kentucky Department of Insurance - a government authority operating within Kentucky. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form LC-2?
A: Form LC-2 is a document used for calculating the Loss Cost Multiplier in Kentucky.
Q: What does P&C stand for?
A: P&C stands for Property and Casualty.
Q: What is a Loss Cost Multiplier?
A: The Loss Cost Multiplier is a factor used to adjust the base rates for insurance policies.
Q: What are Expense Constants?
A: Expense Constants are values used to incorporate expenses into the Loss Cost Multiplier calculation.
Q: How are Expense Constants used in the calculation?
A: Expense Constants are multiplied by the premium base and added to the Loss Cost Multiplier.
Q: Why is the Loss Cost Multiplier important?
A: The Loss Cost Multiplier helps determine the final premium for an insurance policy.
Q: Who uses Form LC-2?
A: Form LC-2 is used by insurance companies and regulators in Kentucky.
Form Details:
- Released on October 1, 2007;
- The latest edition provided by the Kentucky Department of Insurance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form LC-2 P&C by clicking the link below or browse more documents and templates provided by the Kentucky Department of Insurance.
