Definitions for "Merit Rating"
A merit rating that bases calculation of the policy premium on previous loss experience. (See also, Experience Rating.)
A form of auto rating in which an insured's past experience as well as anticipated experience is taken into account when arriving at a rate.
A system for measuring the difference of an individual risk by some standard in order to reflect the difference in the rate.
A method for appraising the performance of an employee with respect to his or her job.  It frequently serves as a basis for making pay adjustments, promotion decisions, or work reassignments.
Recognized individual differences in instructional ability; strongly resisted by many teachers due to the difficulty of developing an acceptably objective method for evaluating teacher performance; usually tied to salary increases.
A process of evaluating the performance of an employee. This is usually used to determine work assignments, promotions and salary increases.