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You work for an insurance company and your boss asks you to calculate the premiums that should be charged for a particular group of clients.

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You work for an insurance company and your boss asks you to calculate the premiums that should be charged for a particular group of clients. The expected losses for this group will be $12,000,000 and there are 12,000 clients in this group. The firm's expense ratio is 50%. Calculate the pure premium and the gross premium for this group of clients. Show your work

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