SNIC Insurance expected their health insurance loss ratio to be 69% for the current year. The actual losses and loss adjustment expenses are $13,850,250 while the premiums earned are $18,560,300. Using the loss ratio method, by what percentage should the company increase their premiums for the next financial year? a. 6% b. 7% c. 9% d. 8%

SNIC Insurance expected their health insurance loss ratio to be 69% for the current year. The actual losses and loss adjustment expenses are $13,850,250 while the premiums earned are $18,560,300. Using the loss ratio method, by what percentage should the company increase their premiums for the next financial year? a. 6% b. 7% c. 9% d. 8%

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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