Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A general insurance company has experience data of a TLO insurance product (Total Loss Only), as follows: Total Exposure: 315,271 Total Insured: 468,214 Number of
A general insurance company has experience data of a TLO insurance product (Total
Loss Only), as follows:
Total Exposure: 315,271
Total Insured: 468,214
Number of Claims Occurrence: 3,279
Amount of Claim Paid: Rp. 737,775,000,000. -
Total TSI: Rp. 145,434,057,503,000.
Premium Structure:
Expected Loss: 40%
Expense: 27.5%
Komisi: 15%
Expected Profit: 17.5%
Using the experience above, how much Gross Premium should be paid,
if there is a risk with a new Sum Insured of Rp. 590 million?
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