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8. (10 points) An insurer has the following book of insurance policies: 6 Policy Number Policy Effective Date Policy Term (in Months) Gross Written Premium

8. (10 points) An insurer has the following book of insurance policies: 6 Policy Number Policy Effective Date Policy Term (in Months) Gross Written Premium January 1, 2015 12 12,000 2 June 1, 2015 7,000 3 August 1, 2015 10,000 4 February 1, 2016 12 15,000 May 1, 2016 8,000 12 Questions: a. (5 points) Calculate the calendar year 2016 gross earned premium. b. (5 points) Calculate the gross unearned premium as of December 31, 2016

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