Week 4 Problem
For the past calendar year, a property insurer reported the following
financial information for a specific line of insurance:
Premiums written			$23,000,000.00
Expenses incurred			$5,000,000.00
Incurred losses and loss-
adjustment expenses			$14,000,000.00
Earned Premiums			$20,000,000.00
a) What was the insurer's loss ratio for this line of coverage
b) Calculate the expense ratio for this line of coverage.
c) What was the combined ratio for this line of coverage.