10.8. You are given the following information for an insurance with rates varying by territory and class:Average Class AverageDifferentialEarned Premium atRateCurrent RatesLossesTerritory 1Territory 2Territory 3374,000420,000120,0001.25200290,000350,00090,0001.402801.60240Territory 1 is the base territory.Calculate the indicated territory differentials using the loss ratio method.

In insurance, the loss ratio, which is given as a number, is one of the most important ways to…

Answered: 10.8. You are given the following…

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter11: Planning For Health Care Expenses

Section11.1: The Affordable Care Act And You

Problem 5CC

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Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b) Deductibles c) Co-insurance d) Preventive programs
C. Claim form D. Policy form 20. The written insurance document that may include all clauses, exception and conditions is called O A. endorsement O B. claim form O C. certificate of insurance O D. policy form 21. What is the form that filled out by insured if a loss is suffered? *
Which of the following is not an insurance management tool? Group of answer choices deductibles. screening of applicants. limits on insurance. restrictive covenants. signalling.
The insurance Commissioner must approve which of the following types of insurance rates prior to their use: A. Fire B. Title C. Inland marine D. Workers Compensation Loss Cost
Briefly explain the difference between an insurance and an assurancepolicy?
8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the health care service, coinsurance is a flat fee b. Copay is typically a flat fee, coinsurance is a percentage of the health care service c. Copay is paid by the individual when receiving a health care service, coinsurance is paid by the insurance company
Define the term prepaid insurance.
Compare whole-life and term insurance.
A Quick Response will be appreciated
Entity A obtains life insurance for its key employee from Entity B (an insurance company). Entity B cedes the insurance contract with Entity A to Entity C, another insurance company. How should Entity B account for the insurance contract with Entity C?A. using the modified version of the general model applicable for onerous insurance contractsB. using the general modelC. using a modified version of (a) or (b) applicable to reinsurance contracts heldD. using the premium allocation approach
Which of the following is correct about the effect of a deductible with respect to the price of an insurance policy? O A policy with a deductible will raise the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will lower the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will raise the premium. This will make the overall cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims O A policy with a deductible will lower the premium. This will make the overal cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims

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