Answered step by step
Verified Expert Solution
Question
1 Approved Answer
19. A clinic with nine nurses recently applied for medical malpractice coverage with UHWI General Insurance Company Limited. UHWI's quoted premium is $7,200 for
19. A clinic with nine nurses recently applied for medical malpractice coverage with UHWI General Insurance Company Limited. UHWI's quoted premium is $7,200 for a single policy covering the nine professionals, after the application of all adjustments. The practice has recently added a critical care nurse and has requested a new quote from UHWI to cover all ten professionals on a single policy. Based on the characteristics of the nurse, the following entries UWHI's rating manual are nd Exa Date: 20... applicable: Initial Quoted Premium $7,200 Employed Annual Rate $1,800 Specialty Relativity 0.9 Part Time Status Relativity 1.0 Territory Relativity 1.1 Schedule Rating 0.2 Limit Relativity 1.0 Deductible Discount Factor 2.5% Claims-Made Factor 0.2 Group Credit 10% Minimum Premium $600.00 Calculate the final quoted premium. A. $7,800.00 B. $8,175.29 C. $9,000.00 D. $9,375.29 E. $9,600.00 Semester 2 2023/2024 must be signed by st WTIGIO APPICADICI
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started