Per Bed Rating and Loss-Rated Pricing
What this clause says
Premium is computed at the Rate per Occupied Bed shown in the Declarations, subject to audit at expiration against actual average daily census.
What this actually means
Senior care liability is usually priced per bed or per occupied unit rather than on revenue, with rates varying enormously by state, level of care, and loss history. Larger programs move to loss rating, where the premium is built from the operator's own claim history projected forward rather than from a class rate.
What it means for an operator
Understanding which basis applies changes how you influence the number. On a per-bed rate, the levers are the class factors: state, care level, and census mix. On a loss-rated program, your own claim development is the input, which means closing old claims, managing reserves actively, and correcting the development pattern in your data are worth real premium. That is a slower project than shopping the market, and it is more durable. It also means an operator with a bad two-year stretch is paying for it for several years, so the work of reducing frequency starts paying long before the current renewal. Ask which basis your program uses, and if it is loss rated, ask for the actuarial exhibit that builds the number.
How this evaluates
The Policy Checker applies these rules in order; the first match wins.
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Check this term against your own program.
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