Definitions for "Policy year experience"
Reinsurance experience calculated with all applicable premiums and losses assigned to the particular period (usually a 12-month period) in which each reinsured policy becomes effective. Also UNDERWRITING YEAR EXPERIENCE. Compare ACCIDENT YEAR EXPERIENCE and CALENDAR YEAR EXPERIENCE.
A recording of financial results based upon policies issued in a given year. Thus, an insurer's policy year experience for 1992 would be based upon the loss experience of all policies issued in 1992.
Property/Casualty] EXPERIENCE recorded for policies effective during a calendar year (or period); distinguished from ACCIDENT YEAR (OR PERIOD) EXPERIENCE, CALENDAR/ACCIDENT YEAR (OR PERIOD) EXPERIENCE, CALENDAR YEAR (OR PERIOD) EXPERIENCE; see also EXPERIENCE; (2) [Health, Life, Pension] EXPERIENCE recorded between two consecutive policv anniversaries