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| rev | Admin | (Created page with "An insurer is considering a rate change that will be in effect during calendar year 3. The insurer uses the loss ratio method for ratemaking. The following is true: *Projected policy year 1 ultimate losses equal $1,250,000. *Policy year 1 earned premium equals $1,400,000. *Rates were increased by 5% on July 01 of calendar year 1 and then increased again by 3% on July 01 of calendar year 2. *Policies are annual and written evenly throughout the year. *Loss cost inflation...") | Jul 25'24 at 19:50 | +795 |