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A policy's full coverage claim severity is uniform on [0,2000] with a per-claim deductible of $500 and per-claim limit, applied before the deductible, of $1,500. A claim is reported when the loss to to the insured exceeds the deductible. Determine the expected loss to the insurer per ''reported'' claim. | A policy's full coverage claim severity is uniform on [0,2000] with a per-claim deductible of $500 and per-claim limit, applied before the deductible, of $1,500. A claim is reported when the loss to to the insured exceeds the deductible. Determine the expected loss to the insurer per ''reported'' claim. | ||
< | <ul class="mw-excansopts"> | ||
<li>501.55</li> | <li>501.55</li> | ||
<li>625.67</li> | <li>625.67</li> | ||
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<li>700.67</li> | <li>700.67</li> | ||
<li>872.55</li> | <li>872.55</li> | ||
</ | </ul> | ||
Revision as of 11:52, 18 March 2024
A policy's full coverage claim severity is uniform on [0,2000] with a per-claim deductible of $500 and per-claim limit, applied before the deductible, of $1,500. A claim is reported when the loss to to the insured exceeds the deductible. Determine the expected loss to the insurer per reported claim.
- 501.55
- 625.67
- 666.67
- 700.67
- 872.55