Taking a defensive driving course is an example of which one of the following: loss financing loss avoidance loss assumption loss reduction loss prevention If you were a life insurance undenwriter, which of the following underwriting criteria would you MOST prefer to use because of its reliability? The results of blood and urine tests taken by your company's own physicians The opinion of the patient's family doctor as to the overall health of the patient The applicant's response to the question Have you smoked any tobacco products within the last year? The results of blood and urine tests taken by the applicants The applicant's response to the question Have you ever tested positive for HIV? Warren is the president of The Huge Insurance Company. His Vice-President in charge of Finance comes to him one day and says "Warren, our combined ratio for the year is 103%." Warren replies, "Let's party!" Why isn't Warren upset about the high combined ratio? The company has actually made a 3% profit on its insurance business. Because the company maintains enough risk reserve balance. The combined ratio really isn't that important... it only measures the combined productivity of all regional otfices the company owns. The company probably made enough money on its investments to make up for the underwriting losses. The combined ratio is not an important indicator of underwriting results