RMIN4000 FINAL EXAM BROWN Questions and Answers 100% Solved
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Course
RMIN4000
Institution
RMIN4000
RMIN4000 FINAL EXAM BROWN
Questions and Answers 100% Solved
Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid
a total of $136,000,000 in collision losses to the owners of 16,000 of those
vehicles. What was Lannister's collision loss frequency in 2019? - 0.08
(16k/200k)
...
premium for the property policy covering the office building? - ✔✔3750
(15K feet/ 100 feet = 150ft * 25$ = 3750$)
Antonio is employed by an insurance company. He reviews applications to
determine whether his company should insure the applicant. Antonio
assigns the applicant to a rating category based on the applicant's degree
of risk. Antonio is a(n): - ✔✔underwriter
Walter White is the owner of A1A Car Wash. Jesse Pinkman is a regular
A1A customer. One day, while waiting for his car to be washed, Jesse
slipped on a wet spot on the floor and injured his back. As a result of his
injury, he threatens to file suit against Walt and A1A Car Wash. Walt
quickly notifies his insurer to start the claim process. This is an example of
a: - ✔✔third party claim
O'Houlihan Wrenches is a tool manufacturer. They have asked Average
Joe Insurance to insure their new $40 million manufacturing facility.
Because of the high amount of coverage needed, the Average Joe's
underwriter has indicated that they'll need to check with their reinsurer,
Globo Re, to determine if they can obtain a reinsurance policy to
specifically cover the manufacturing facility. Which type of reinsurance
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