Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8a. Small Potatoes (SP), is a microchip company. On average, 45 percent of SP's product liability claims for a calendar year are reported during the
8a. Small Potatoes (SP), is a microchip company. On average, 45 percent of SP's product liability claims for a calendar year are reported during the calendar year. For 2019, 22 product liability claims were reported during the policy year. many product liability claims (ultimately) should SP expect for 2017? (1 point) How b. SP's loss development factors for product liability and general liability are provided below: Months after End of Calendar Year: 12 18 24 30 36 Product Liability General Liability 4.1 3.2 3.5 2.1 2.6 1.7 1.4 1.2 1.1 1.0 1. One and a half years after the end of the calendar year, general liability claims to-date were $1.4 million. What are the ultimate general liability claims that SP should expect for this calendar year? (one point) 2. Twenty-four months after the end of a calendar year, product liability claims to-date were $1.5 million. What are the ultimate product liability claims should that SP should expect for this year? (one point) 8a. Small Potatoes (SP), is a microchip company. On average, 45 percent of SP's product liability claims for a calendar year are reported during the calendar year. For 2019, 22 product liability claims were reported during the policy year. many product liability claims (ultimately) should SP expect for 2017? (1 point) How b. SP's loss development factors for product liability and general liability are provided below: Months after End of Calendar Year: 12 18 24 30 36 Product Liability General Liability 4.1 3.2 3.5 2.1 2.6 1.7 1.4 1.2 1.1 1.0 1. One and a half years after the end of the calendar year, general liability claims to-date were $1.4 million. What are the ultimate general liability claims that SP should expect for this calendar year? (one point) 2. Twenty-four months after the end of a calendar year, product liability claims to-date were $1.5 million. What are the ultimate product liability claims should that SP should expect for this year? (one point)
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