Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 27 Takaful wishes to adjust their rates for next year, they calculate that the expected loss ratio is 0.97, while the data shows that

image text in transcribed
QUESTION 27 Takaful wishes to adjust their rates for next year, they calculate that the expected loss ratio is 0.97, while the data shows that the loss adjustment expenses is 668 and the total premium oaming is 1.122. The company's current rates 50. Using the experience rating mothod what will the new primum be if the credibility factor is 0,67

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Indebted To Intervene Critical Lessons In Debt Communication Art And Theoretical Practice

Authors: Oliver Vodeb , Nikola Janovic Kolenc

1st Edition

1922216267,1783206411

More Books

Students also viewed these Finance questions

Question

1.what is rule of law? 2.The administrative body of government?

Answered: 1 week ago