1. Using the following information, calculate the on-level factor to be applied to the 2019 Calendar Year...
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Question:
1. Using the following information, calculate the on-level factor to be applied to the 2019 Calendar Year Earned Premium in order to bring it to current rate level:
· Semi-annual policies, assuming uniform writing throughout the year
· Rate increase of 5% on 7/1/2018
· Rate decrease of 10% on 10/1/2018
· Rate increase of 8% on 4/1/2019
· Rate increase of 12% on 10/1/2019
· Rate decrease of 9% on 4/1/2020
2. Calculate the 2019 Calendar Year Earned Premium on-level factor, using the information given in #1, as well as a law-mandated decrease of 6% on all in-force policies as of 7/1/2019.
Related Book For
Foodservice Management Principles and Practices
ISBN: 978-0135122167
12th edition
Authors: June Payne Palacio, Monica Theis
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