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Ike, as an underwriter for IIA Insurance Company, knew his rates needed to include loss expenses, as well as profits and contingencies. Ike also had
Ike, as an underwriter for IIA Insurance Company, knew his rates needed to include loss expenses, as well as profits and contingencies. Ike also had to pay premium taxes, general expenses and licenses and fees paid to government, regulatory, and advisory organizations. These expenses are generally included in ratemaking as Select one: A. The loss adjustment expenses. B. The pure premium. C. Modified premium expenses. D. The expense provision.
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