Which of the following is FALSE regarding pricing for Property & Casualty (P&C) insurance? Insurance is a promise to do something in the future if certain events take place during a specified time period OP&C insurance pricing is a prospective exercise. The intention of P&C insurance pricing includes the goal of recouping past losses. Balance for the fundamental insurance equation should be attained at the aggregate and individual levels Age (x) at Number Living at Number Dying during Beginning Beginning of Designated Designated Year of Year (2) Year (dx) 30 9,580,000 16,573 31 9,563,427 17,023 32 9,546,404 17,470 33 9,528,934 18,200 34 9,510,734 19,021 Calculate the probability of an individual age 30 surviving to age 31 and then dying before age 32. 0.001762 0.001780 O 0.001777 0.001792