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1. (5 points) For an insurance company, we are given the following data: Written premium Earned premium Paid loss All other expenses Incurred losses $

1. (5 points) For an insurance company, we are given the following data: Written premium Earned premium Paid loss All other expenses Incurred losses $ 1,000,000 $ 800,000 $ 600,000 $ 200,000 $ 900, 000 Note that for Loss Ratio, we use reported losses and earned premium. Question: Calculate the combined ratio. Explain if it is a good combined ratio

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