Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa
Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa
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In our eReader you can find the full English version of the book. Read Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa
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The rate then per dollar of insurance actually in force will be $7. 3266 divided by 70. 77, or . 1035. This is the rate per dollar of insurance actually in force on risks that have become claims. If this were multiplied by the ratio of the number of claims to the number of risks it would 27 be the burning ratio or net rate. The corresponding rate (see Table 7) with 70 per cent co-insurrance is . 1065, with 80 per cent co-insurance is . 0964; this actual rate of . 1035 lies between these two and... by interpolation it is found to agree with the rate for 73 per cent co-insurance. The corresponding problem in life insurance would be to determine the age for which the rate would be the same as the rate irrespective of age got by dividing the total amount of death claims by the total amount of insurance in force.
If then the rate in use has been properly obtained, that is, if it is the true rate, then if it is taken for the 73 per cent co-insurance rate and the other co-insurance rates are taken in proper ratios to this as determined by Table 7, the business will produce with these rates an amount sufficient to meet the expected loss just as well as with the old single rate; in fact even if the old rate is not the true rate but if it is, for instance, too large, the business conducted with the co-insurance rates will continue to produce the same income as with the old single rate, provided the law of insurance to value remains the same.
What to read after Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa?
You can find similar books in the "Read Also" column, or choose other free books by Board of Fire Underwriters of the Pacific to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The rate then per dollar of insurance actually in force will be $7. 3266 divided by 70. 77, or . 1035. This is the rate per dollar of insurance actually in force on risks that have become claims. If this were multiplied by the ratio of the number of claims to the number of risks it would 27 be the burning ratio or net rate. The corresponding rate (see Table 7) with 70 per cent co-insurrance is . 1065, with 80 per cent co-insurance is . 0964; this actual rate of . 1035 lies between these two and... by interpolation it is found to agree with the rate for 73 per cent co-insurance. The corresponding problem in life insurance would be to determine the age for which the rate would be the same as the rate irrespective of age got by dividing the total amount of death claims by the total amount of insurance in force.
If then the rate in use has been properly obtained, that is, if it is the true rate, then if it is taken for the 73 per cent co-insurance rate and the other co-insurance rates are taken in proper ratios to this as determined by Table 7, the business will produce with these rates an amount sufficient to meet the expected loss just as well as with the old single rate; in fact even if the old rate is not the true rate but if it is, for instance, too large, the business conducted with the co-insurance rates will continue to produce the same income as with the old single rate, provided the law of insurance to value remains the same.
What to read after Report of the Co Insurance Committee to the Board of Fire Underwriters of the Pa?
You can find similar books in the "Read Also" column, or choose other free books by Board of Fire Underwriters of the Pacific to read onlineMoreLess
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