Question: Given the following data and using the loss ratio ratemaking method, calculate the insurance rate change (rounded). Expected loss ratio 63% Actual loss ratio 55%

Given the following data and using the loss ratio ratemaking method, calculate the insurance rate change (rounded). Expected loss ratio 63% Actual loss ratio 55% Incurred losses $600,000 Earned premium $1,250,000 Expenses 45% Select one: A. 7% B. 15% C. -8% D. -13%

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