{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

tutorial_Insurance_5_Student - UNIVERSITY OF TECHNOLOGY...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
UNIVERSITY OF TECHNOLOGY, JAMAICA SCHOOL OF BUSINESS ADMINISTRATION INSURANCE TUTORIAL QUESTIONS SUBJECT: UNIT 5 Financial Operations Of Insurance Companies GROUPS: BBA – Question 1 : a) What are the two major sources of revenue for a property and casualty insurance company? b) What are the major expenses of a property and casualty insurance company? Question 2: a) How is the combined ratio of an insurance company calculated, and what does the combined ratio measure? b) How is it possible for a property and casualty insurance company to be profitable if its combined ratio exceeds one or (100 percent)? Question 3: For the last calendar year, a property insurer reported the following financial information for a specific line of insurance: Premiums Written $ 25,000,000 Expenses Incurred 5,000,000 Incurred Losses & loss adjustment expenses 14,000,000 Earned Premiums 20,000,000 a) What is the insurer’s loss ratio for this line of coverage? b) Calculate the expense ratio for this line of coverage.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern