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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 accident year 2 ultimate losses equal $1,500,000. *Accident year 2 earned premium equals $1,700,000. *The last rate change was at the beginning of calendar year 1. *Loss cost inflation equals 4% per annum. *There are no fixed underwriting expenses. *Variable expenses equal 10% of premium. *The tar...") | Jul 25'24 at 19:46 | +680 |