What is claim ratio ?
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Answer / nanda s patil
it is in the general, marine,life insurance subject. it is
total of claims paid by general insurance plus losss
adjustments divided by premium earned.also called loss ratio
| Is This Answer Correct ? | 30 Yes | 2 No |
Answer / neha
The ratio of the cost of claims to the corresponding
premiums, either gross or net of reinsurance. The claim
ratio could, for example, be:
* the ratio of the incurred claims cost to the written
premium for a given underwriting year
* the ratio of the estimated ultimate claims cost to the
estimated ultimate premium for a given underwriting year
* the ratio of the incurred claims cost to the earned
premium for a given accounting year or year of exposure; or
* the ratio of the estimated ultimate claims cost to the
earned premium for a given accounting year or year of exposure
In the latter two examples the numerator could also include
the estimated change in the cost of claims that occurred in
earlier years. Similarly, the denominator could include
changes in earned premium in respect of earlier years.
Claim ratios may relate to periods other than a year.
| Is This Answer Correct ? | 12 Yes | 9 No |
what is FBT?
Benjamin O'Henry has owned and operated O'Henry's Data Services since its beginning ten years ago. From all appearances, the business has prospered. In the past few years, you have become friends with O'Henry and his wife. Recently, O'Henry mentioned that he has lost his zest for the business and would consider selling it for the right price. You are interested in buying this business, and you obtain its most recent monthly unadjusted trial balance which follows: O'Henry's Data Services Unadjusted Trial Balance November 30, 20XX Cash……………………………… $9,700 Accounts receivable……………………… 7,900 Prepaid expenses………… 2,600 Furniture, fixtures, & equipment 151,300 Accumulated depreciation $15,600 Accounts payable………… 3,800 Salary payable……………… Unearned service revenue 6,700 Benjamin O'Henry, capital 137,400 Benjamin O'Henry, withdrawals 2,000 Service revenue………… 14,300 Rent expense…………… Salary expense………… 3,400 Utilities expense……… 900 Depreciation expense Supplies expense…… Total…………………………………………. $177,800 $177,800 Revenues and expenses vary little from month to month, and November is a typical month. Your investigation reveals that the unadjusted trial balance does not include the effects of monthly revenues of $2,100 and monthly expenses totaling $2,750. If you were to buy O'Henry's Data Services, you would hire a manager who would require a monthly salary of $3,000. The most you would pay for the business is 20 times the monthly net income you could expect to earn from it. Compute this possible price. The least O'Henry will take for the business is his ending capital. Compute this amount. Under these conditions, how much should you offer O'Henry? Give your reason. I have the mathimatical part ok , please give reasons on how much and why I they would offer him the amount.
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