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Today General Knowledge(GK)
The ratio of losses incurred to premiums earned actually experienced in a given line of insurance activity in a previous time period is called_____
A)
Actual Loss Ratio
B)
Actuarial Cost Assumptions
C)
Combined Ratio
D)
Acts Of God

Correct Answer : Option (B) - Actuarial Cost Assumptions



Loss Ratio in insurance is the ratio of total amount paid out in claims plus adjustment expenses divided by the total earned premiums.

Published On : June 2, 2021
Category : Insurance and Finance
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