Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

Cole Mutual Insurance Agency earned $24,456K in premiums in 2020 and reported a net taxable loss of $340,000K. They incurred claims of $15,123K during the

Cole Mutual Insurance Agency earned $24,456K in premiums in 2020 and reported a net taxable loss of $340,000K. They incurred claims of $15,123K during the year and had $10,789K in expenses. What was their combined ratio at the end of 2020?

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

Recommended Textbook for

Real Estate Finance

Authors: John P. Wiedemer

8th Edition

0324142900, 9780324142907

More Books

Students also viewed these Finance questions

Question

★★★★★

For each of the following schedules, state whether the schedule is serializable, conflict-serializable, view-serializable, recoverable, and whether it avoids cascading aborts: (a) Read(T1, balx),...

Answered: 1 week ago

Question

★★★★★

What relationship do you see between organizational justice, productivity, and workforce diversity? AppendixLO1

Answered: 1 week ago

Question

★★★★★

In the article Zinc gluconate lozenges for treating the common cold in children: a randomized controlled trial published in the Journal of the American Medical Association (Macknin et al., 1998), the...

Answered: 1 week ago

Question

★★★★★

What is an RFP, and what critical tasks does it facilitate in the purchasing process?

Answered: 1 week ago

Question

★★★★★

Help on any of these questions would be very helpful and much appreciated!! You work as a supply chain manager for Primo Caf Inc. Primo Caf is a small-sized manufacturer of stylish coffee makers. The...

Answered: 1 week ago

Question

★★★★★

Svengool Inc. financial statements included the following amounts for the current year Retired bonds $60,000 Proceeds from collection of note receivable 30,000 Dividends received 11,000 Acquired...

Answered: 1 week ago

Question

★★★★★

Zach has worked in the pizza business for ten years. He is tired of working for others and now wishes to start his own pizza restaurant. Zach created a corporation called Zach's Pizza. Wanting to...

Answered: 1 week ago

Question

★★★★★

1.When a bank customer deposits $1,000 into her checking and $1,000 into her savings and there is a reserve requirement ratio of 5%, how is this recorded in the bank's balance sheets? Group of answer...

Answered: 1 week ago

Question

★★★★★

What does mentoring provide that supervision does not? Mentoring involves meeting compliance standards and supervision does not. Mentoring involves a level of discourse that goes beyond supervision...

Answered: 1 week ago

Question

★★★★★

Explain the causes of indiscipline.

Answered: 1 week ago

Question

★★★★★

Which of these is not a way that organizations can develop ways to become more innovative? a. Promote a culture that encourages risk-taking b. Spending money on research & development c. Empowering...

Answered: 1 week ago

Question

★★★★★

4.13 The number of computers sold per day at Dans Computer Works is defined by the following probability distribution: x 0 1 2 3 4 5 6 P(x) 0.05 0.10 0.20 0.20 0.20 0.15 0.10

Answered: 1 week ago

Question

★★★★★

Suppose that the probability distribution for the number of errors, X, on pages from business textbooks is as follows: P102 = 0.81 P112 = 0.17 P122 = 0.02 Find the mean number of errors per page.

Answered: 1 week ago

Question

★★★★★

4.15 Consider the probability distribution function. x 0 1 Probability 0.40 0.60 a. Graph the probability distribution function. b. Calculate and graph the cumulative probability distribution. c....

Answered: 1 week ago

Previous Question Next Question