You are given the following information for an insurance with rates varying by territory and class:...
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You are given the following information for an insurance with rates varying by territory and class: Average Class Average Earned Premium at Differential Rate Current Rates Territory 1 Territory 2 Territory 3 1.25 1.40 1.60 200 280 240 374,000 420,000 120,000 Territory 1 is the base territory. Calculate the indicated territory differentials using the loss ratio method. Losses 290,000 350,000 90,000 You are given the following information for an insurance with rates varying by territory and class: Average Class Average Earned Premium at Differential Rate Current Rates Territory 1 Territory 2 Territory 3 1.25 1.40 1.60 200 280 240 374,000 420,000 120,000 Territory 1 is the base territory. Calculate the indicated territory differentials using the loss ratio method. Losses 290,000 350,000 90,000
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The loss ratio is calculated as losses incurred in claims pays to the i... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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