Rate makers are never certain whether the premiums collected are going to be sufficient to pay all losses and expenses. Select one: True O False Excluding damages that result from storms in a homeowner's insurance policy is an example of excluded losses. Select one: True False An expense ratio of 26% indicates low insurance company expenses in acquiring business. Select one: O True O False When estimating the loss reserve in the average value method is used to assign a loss value to each claim. a. Car Insurance O b. Life insurance OC Professional liability Insurance O d. Ocean marine insurance The has the responsibility to make sure that no fraudulent claims are processed and paid. a. Rate maker Ob. Sales agent Occlaims adjustor O d. Underwriter