QUESTION 6 Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss in January costing 1,652, another in May costing 2,595 and the last in December costing 2,945. If Faisal has a straight deductible of 381. How much will the insurer pay? QUESTION 7 Takaful wishes to adjust their rates for next year, they calculate that the expected loss ratio is 0.95, while the data shows that the loss adjustment expenses is 628 and the total premium earning is 1,119. The company's current ratei s 42. Using the experience rating method what will the new primum be if the credibility factor is 0.62