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Greater American Insurance Group underwrites the property risk from Buckeye Brewery. The policy involves a deductible of $300,000. The premium that Greater American charges is

Greater American Insurance Group underwrites the property risk from Buckeye Brewery. The policy involves a deductible of $300,000. The premium that Greater American charges is $50,000. Is this premium actuarially fair? Justify your answer with the calculation?

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