IAI SP8 Practice Questions - IAI Subject SP8 General Insurance Pricing Exam

In general insurance pricing, the technical premium is best described as the premium that:

Covers expected claims, expenses, cost of capital and a profit margin, before competitive adjustment Reflects only the expected cost of claims with no other loadings Is the lowest price a regulator will permit an insurer to charge Equals the office premium after deducting commission only

Correct Answer:

Covers expected claims, expenses, cost of capital and a profit margin, before competitive adjustment

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