As a result of a pricing exercise, you produce the following estimates for a public liability risk:
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As a result of a pricing exercise, you produce the following estimates for a public liability risk:
a. Expected losses = £850k
b. Allowance for uncertainty = None
c. Other costs = £150k
d. Commissions = None
e. Profit = 12% of premium
f. Mean weighted payment time = 5.5 years Using current publicly available information for investment return information, produce an estimate of the technical premium.
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