Definition. Individual Risk Premium Modification (IRPM) — the sum of judgment rating factors (debits or credits) assigned to distinguish the insured's characteristics from the average insured in its class, which are not already recognized in the rating process.
Individual Risk Premium Modification (IRPM) — the sum of judgment rating factors (debits or credits) assigned to distinguish the insured's characteristics from the average insured in its class, which are not already recognized in the rating process.