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Question 1 (Compulsory) (a) A lawnmower manufacturer has the following loss distribution for its annual products liability costs: Determine the expected claim costs for each

Question 1 (Compulsory) (a) A lawnmower manufacturer has the following loss distribution for its annual products liability costs: Determine the expected claim costs for each of the following policies: i. Full insurance ii. $50,000 deductible and a $500,000 limit iii. 20 percent coinsurance and a $700,000 limit

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