exercise:Ed1d7f1d87: Difference between revisions
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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 | 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 the insured exceeds the deductible. Determine the expected loss to the insurer per ''reported'' claim. | ||
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Revision as of 20:55, 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 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