13. Find fair premium for an insurance product that provide coverage of a risky event with the following loss distribution. Round to two decimal places when calculating your answer. (6 points) Loss amount ($) Probability 100,000 0.02 20,000 0.05 5,000 0.1 0 0.83 The insurance has a deductible of $5,000. The underwriting costs are 20% of pure premium, claims are paid at end of year, the interest rate is 10%, and claim processing costs are $5,000. The fair profit loading is 5% of pure premium. 13. Find fair premium for an insurance product that provide coverage of a risky event with the following loss distribution. Round to two decimal places when calculating your answer. (6 points) Loss amount ($) Probability 100,000 0.02 20,000 0.05 5,000 0.1 0 0.83 The insurance has a deductible of $5,000. The underwriting costs are 20% of pure premium, claims are paid at end of year, the interest rate is 10%, and claim processing costs are $5,000. The fair profit loading is 5% of pure premium