A large casualty insurer writes a substantial amount of private passenger auto insurance. An actuary analyzed claims data for a specific class of drivers for a recent one-year policy period. The claims data showed that the insurer paid out $30 million for incurred losses and loss-adjustment expenses for each 100,000 cars insured for one year. Based on the pure premium method, calculate the pure premium.
Answer to relevant QuestionsFor the past calendar year, a property insurer reported the following financial information for a specific line of insurance:Premiums written.................. $25,000,000 Expenses incurred.................. 5,000,000 ...Name three ways in which the assets of a life insurance company differ from the assets of a property and casualty insurance company.Ashley is an actuary who is employed by the Nebraska Department of Insurance. Her duties include monitoring the financial position of insurance companies doing business in Nebraska. Based on an analysis of annual financial ...Identify the major techniques that regulators use to monitor insurance company solvency.A drunk driver ran a red light and smashed into Kristen's car. The cost to repair the car is $8000. She has collision insurance on her car with a $500 deductible.a. Can Kristen collect from both the negligent driver's ...
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