Which one of the following statements is correct with respect to policy retention? 

Group of answer choices

1. Low retention allows for profitable growth in policies in force (PIF). 

2. It is usually expressed as the percentage of policies that are renewed. 

3. It is a measure of how long a particular policyholder has been insured with a given insurer. 

4. The loss history it generates leads to less accuracy in rating coverages.

Answer rating: 100% (QA)

Answer Option 3 It is a measure of how long a particular p... View the full answer