Vermont § 4683 - Definitions As used in this chapter:

§ 4683. Definitions As used in this chapter:

• (1) “Advisory or service organization” means any person or organization that assists insurers
  as authorized by section 4690 of this title, but such an organization shall not include joint underwriting organizations, actuarial
  or legal consultants, a single insurer, any employees of an insurer, or insurers under
  common control or management or their employees or managers. (2) “Classification system” or “classification” means a plan, system, or arrangement for
  recognizing differences in exposure to hazard among risks. (3) “Commercial risk insurance” means insurance within the scope of this chapter that
  is not: (A) personal risk insurance; or (B) workers’ compensation and employers’ liability insurance. (4) “Competitive market” means a market that has not been found to be noncompetitive pursuant
  to section 4684 of this title. (5) “Expenses” means that portion of any rate attributable to acquisition, field supervision
  and collection expenses, general expenses, and taxes, licenses, and fees. (6) “Experience rating” means a rating procedure utilizing past insurance experience of
  the individual policyholder to forecast future losses by measuring the policyholder’s
  loss experience to produce a prospective premium credit, debit, or unity modification. (7) “Joint underwriting” means a voluntary arrangement established on an ad hoc basis
  to provide insurance coverage pursuant to which two or more insurers separately contract
  with the insured at a price and under policy terms agreed upon between the insurers. (8) “Loss cost” means the actuarially developed portion of the rate needed to cover future
  losses and claims