Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dhul insurance ltd incurred loss and loss adjustme

DHUL Insurance Ltd incurred loss and loss adjustment expenses of $374500 and earned premiums of...

80.2K

Verified Solution

Question

Accounting

DHUL Insurance Ltd incurred loss and loss adjustment expenses of $374500 and earned premiums of $665000
for one line of coverage in 2022. The expected loss ratio was 60%. According to the loss ratio method, by what
percentage must the company adjust for this line of coverege. (5 marks)
Explain the direction of adjustment of the premium. (5 marks)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

When 6.104 grams of a hydrocarbon, CxHy, were burned in a combustion analysis apparatus, 19.15 grams...

Chemistry
Q

You want to determine if there is a relationship between birth order (first, or second child...

Psychology
Q

Please show in EXCEL how to express with function formula. As we discussed during Week 3, researchers decide...

Basic Math
Q

What postulate if any can be used to prove the triangles congruent

Geometry
Q

Mary needs to borrow $12,000. She can borrow the money at 4.5% simple interest for...

Basic Math
Q

Let f(x, y) = x sin(x - y). Find its partial derivatives fx and fy....

Basic Math
Q

The number of strikeouts per game in Major League Baseball can be approximated by the...

Basic Math
Q

Evaluate the definite integral 1 0 32x7 dx

Calculus
Q

Denver Hair Stylists' adjusted trial balance follows. Prepare Denver's income statement for the...

Accounting
Q

Which statement is true concerning the safe payment and cash distribution plan approaches to liquidation?...

Accounting
Q

The chart below describes the 1231 assets sold by the Ruff-n-Ready Company (a sole...

Accounting
Q

Synergy Company began 2023 with 17,500 units of Product X in its inventory that cost...

Accounting