Werner Ch 8

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Author:
Esaie
ID:
14094
Filename:
Werner Ch 8
Updated:
2010-04-12 15:38:37
Tags:
Exam 5 TIA Werner ch 8
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Exam 5 TIA Werner ch 8
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  1. Pure Premium Method´╗┐
  2. Loss Ratio Method
  3. Loss Ratio versus Pure Premium Methods
    • LR method relies on loss ratio: Requires premium at current rate level; If difficult or not available, PP approach is preferred
    • PP method uses pure premium: Requires clearly defi ned exposures; If not available, LR approach is preferred
    • LR method produces indicated change to current rates
    • PP produces an indicated rate: PP must be used with new line where there are no current rates to adjust

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