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You are given the following loss data: Size of Loss Number of Claims Ground-up Total Losses 0-99 1100 58,500 100-249 400 70,000 250-499 300 120,000
You are given the following loss data:
Size of Loss Number of Claims Ground-up Total Losses 0-99 1100 58,500 100-249 400 70,000 250-499 300 120,000 500-999 200 150,000 >999 100 200,000 Total 2100 598,500 Calculate the percentage reduction in loss costs by moving from a 100 deductible to a 250 deductible.
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