What is the definition of Benchmark rate? | Dictionary.net

BENCHMARK RATE

\bˈɛnt͡ʃmɑːk ɹˈe͡ɪt], \bˈɛnt‍ʃmɑːk ɹˈe‍ɪt], \b_ˈɛ_n_tʃ_m_ɑː_k ɹ_ˈeɪ_t]\

Definitions of BENCHMARK RATE

1910 - Black's Law Dictionary (2nd edition)

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A government-set auto insurance rate used in Canada. An insurance company that sets its rates within a certain range of the benchmark rate does not need government approval to use those rates.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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