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!"#$%&'()*$$+,&-./Underwriting Essentials of Insurance
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:Ef%&:8z*g:%&M60^WAT@VR6/
K K KP KP KS K K
0.20- 5000 0.50 0.50 0.10 0.050 0.050
0.40- 2800 0.28 0.78 0.30 0.084 0.134
0.60- 1200 0.12 0.90 0.50 0.60 0.194
0.80- 800 0.08 0.98 0.70 0.056 0.250
1.00- 200 0.02 1.00 0.90 0.018 0.268
D" 10000 1.00 0.268
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j?I^65.20 = 2h2->Q?T%&'(>?`gI%&h8i7T^6>%*2'(:
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M*A;52.55 = 3h----------------------------------------------J"!"#$%&C('(Z
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3;*g:%&>1?aYg2>_FT"7&Tf%&70_kTAM60^
) 3;*g:%&>1?a)x) 7&Tf%&70_)f
- 0 1,289
2,000 - 553
4,000 - 302
- 6,000 161
- 8,000 112
- 10,000 82
- 15,000 55
- 20,000 38
- 30,000 21
- 50,000 5
100,000 70,000 2
D"T1Dd& 2,620
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ty" ty"
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= !2WA*`$%& - () 2() 0.15461696 = 25,000 25,000
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- 0 1,289 1000 1289000 1289000000
2,000 - 553 3000 1659000 4977000000
4,000 - 302 5000 1510000 7550000000
- 6,000 161 7000 1127000 7889000000
- 8,000 112 9000 1008000 9072000000
- 10,000 82 12500 1025000 12812500000
7/25/2019 Underwrti
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- 15,000 55 17500 962500 16843750000
- 20,000 38 25000 950000 23750000000
- 30,000 21 40000 840000 33600000000
- 50,000 5 60000 300000 18000000000
70,000100,000
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D"
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ty" 2,620
t2;y" t;y"= !2WA*`$%& - () 2()
ty" ty"
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= !2WA*`$%& - () 2() 40221239.26 = 2,620 2,620
!s;*?Cd&K&8f\,&
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:302&689P30267T^6>%*2'(-1x?aT1D"e.T$"
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7/25/2019 Underwrti
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:89P'V0267T^6>%*2'(-2x?aT1D"e.T$"
8z*g:%& `!( ! ) =
= 2 !(4137.59542!0.1048) = 2
867.24
x?aT1DdWA*`$%&8z*g:%&
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40221239.26! 0.1048) =2S2!2 "(4137.595422"0.15461696 +
13724362.4 =
x?aT1Dds;*?Cd&K&8f\,&8z*g:%&
3704.64066 =2S!
:89P30261,000 7T^6>%*2'(-3
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!(4137.59542!0.1048) = 1,0001,000
433620=
x?aT1DdWA*`$%&8z*g:%&
"(2 "2!+ 2!! ) =S2!
40221239.26! 0.1048) =1,000S2!(4137.595422"0.15461696 +
1,000 "
6862181204 =
x?aT1Dds;*?Cd&K&8f\,&1,000S!8z*g:%&
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:89P302625,000 7T^6>%*2'(-4
x?aT1D"e.T$"8z*g:%& `!( ! ) =
!(4137.59542!0.1048) = 25,000
25,000
10840500 =
x?aT1DdWA*`$%&8z*g:%&
"(2 "2!+ 2!! ) =S2!
40221239.26! 0.1048) =25,000S2!(4137.595422"0.15461696 +
25,000 "
1.71555E+11 =
x?aT1Dds;*?Cd&K&8f\,&25,000S!8z*g:%&
414191.4172 =
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0?2T%&egQ%&'(*N%&
=
2
3.08 "3704.64066 +867.24
= 6138.77 = 2
:(89P30261,000) 3;*?.1,000-3_KI$%&`azCW:5%99.9 0Sh0L
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:'2K*3+
+ !S"Z%99.9
0?2T%&egQ%&'(*N%&
=
1,000,000 + !1,000,000"Z%99.9
0?2T%&egQ%&'(*N%&
=
1,000,000
3.08 "2619576.531 + 433620000
= 441.69 = 1,000,000
:'%6B&>}2y"M&=1TI%&qkS%&'%*$%*:5B
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'(*N%&0?2T%&egQ%&'( ( ") + ( !"S "Z%99.9)
30267T^6>%*2302&6
=
'(*N%&0?2T%&egQ%&'( ( 1"1) + ( !1 "1S "Z%99.9)
30267T^6>%*2302&6
=
1
'(*N%&0?2T%&egQ%&'(
3.08 "2619.576531 + 433.62
30267T^6>%*2302&6
= 8,501.92 =
1
'('(*N%&0?2T%&egQ%&>%*2 ( 1"1,000,000) + ( !1,000,000 "1S "Z%99.9)
30261,000,000 7T^6 = 1,000,000
'('(*N%&0?2T%&egQ%&>%*2
(433.62 "1,000,000) + (2619.576531 "1,000 "3.08)
30261,000,000 7T^6 = 1,000,000
'(
'(*N%&
0?2T%&
egQ%&>%*23.08 "2619.576531 + 433.62
30261,000,000 7T^6 441.69= = 1,000,000
:>?\*w%&>}2yd&'2OE&
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3;*g:%&>1?aYg2>_FT"!"#$%&z*670_kTAM60^
>1?a
3;*g:%&))x
70_
7&Tf%&))f
>(4+8"
3;*g:%&
;&8@$%&
'`gI%&(M*1$2,&))5) (x) f
()5"(x) f "x
()5"22x"(x) f
- 0 1,289 1000 0.491985 491.9847 491984.733
2,000 - 553 3000 0.211069 633.2061 1899618.32
4,000 - 302 5000 0.115267 576.3359 2881679.39
- 6,000 161 7000 0.061450 430.1527 3011068.7
- 8,000 112 9000 0.042748 384.7328 3462595.42
- 10,000 82 12500 0.031298 391.2214 4890267.18
- 15,000 55 17500 0.020992 367.3664 6428912.21
- 20,000 38 25000 0.014504 362.5954 9064885.5
- 30,000 21 40000 0.008015 320.6107 12824427.5
- 50,000 5 60000 0.001908 114.5038 6870229.01
70,000100,000
285000
0.00076364.8855 5515267.18
T1Dd&D"
2,620 1.000000 4,138 57,340,935
:7&Tf%&70C%s;*?Cd&K&8f\,&6WA*`$%&6e.T$"M&)*g2-1
70_e.T$"= 7&Tf%&
()5"y" =0.1048
=
!2
WA*`$%& "y")- (()5"2
y") 2 (()5
= !2WA*`$%& 2 (0.1048)- 0.1656 0.15461696=
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s;*?Cd&K&8f\,&!
0.323728281= WA*`$%&;t^= s;*?Cd&K&8f\,&
:3;*g:%&>1?Q%s;*?Cd&K&8f\,&6WA*`$%&6e.T$"M&)*g2-2
>1?ae.T$"= 3;*g:%&
()5"y" =4,138
= !2WA*`$%& "y")- (()5"2y") 2 (()5
= !2WA*`$%& 2 (4,138)- 57,340,935 40221239.26=
K&8f\,&!s;*?Cd&
6342.021701= ;t^= s;*?Cd&K&8f\,&WA*`$%&
x?aT1Dds;*?Cd&K&8f\,&6WA*`$%&6e.T$d&W"E+>1?a)*g2:l*?\*
:8z*g:%&:302&689P30267T^6>%*2'(-1
x?aT1D"e.T$"8z*g:%& `!( ! ) =
= 1 !(4137.59542!0.1048) = 1
433.62
x?aT1DdWA*`$%&8z*g:%&
"(2 "2!+ 2!! ) =1S2!
40221239.26! 0.1048) =1S2!
(4137.595422"0.15461696 +1 "
6862181.204 =
x?aT1Dds;*?Cd&K&8f\,&S!8z*g:%&
2619.576531 =
M1jI3y9B
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:s;*D$%&egQ%&W"%15 s6*gV[y?1f$%&>`g\/8O]6:l&]&;.0S:*k%&-3e%&Eb*V%&'(B`g\-1) '(*N%&egQ%&= s;*D$%&egaM&:/?2:s;*D$%&egaM&(302&689P30267T^6>%*2'(-1
([y?1f$%&>`g\-1) '(*N%&egQ%&=(15% 1) 8,501.92=
.M*A;10,002.26 = 0.85 8,501.92=:s;*D$%&egaM&(89P'V0267T^6>%*2'(-2
([y?1f$%&>`g\-1) '(*N%&egQ%&=(15% 1) 6138.77=
.M*A;7,222.08 = 0.85 6138.77=:s;*D$%&egaM&(89P30261,000 7T^6>%*2'(-3
([y?1f$%&>`g\-1) '(*N%&egQ%&=(15% 1) 688.76=
.M*A;810.31 = 0.85 688.76=:s;*D$%&egaM&(89P302625,000 7T^6>%*2'(-4
([y?1f$%&>`g\-1) '(*N%&egQ%&=(15% 1) 484.65=
.M*A;570.18 = 0.85 484.65=:s;*D$%&egaM&(302&689P30261,000,000 7T^6>%*2'(-5
([y?1f$%&>`g\-1) '(*N%&egQ%&=(15% 1) 441.69=
.M*A;519.64 = 0.85 441.69=
7*.M&ENO%&J_>J./
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1- 0W1X" Z1?a M*1$2,&
8Oq 0.70 10000 0.80
1 0.25 20000 0.15
2 0.05 30000 0.05
T1Dd& 1.00 T1Dd& 1.00
:)TJ9d&:W"E+>1?a)*g2:lR6/
.(Z1?a)*g2:l*?\*:7T^6>%*2'(8z*g:%&x?a
.Z=T&5CnDZ=T5-1.CnD'm=T5-2
.CnDZ=T5100 -3.CnDZ=T510,000 -4.CnDZ=T590,000 -5
/8O]m%=6%99.9>Q> ;0]'(*N%&!"#$%&ega)*g2:l*w%*'(m%=6'C?`9%&AFT$%&`$A8z*g:%&T1Dd'%*1$2,&AFT$%&:7T^6>%*2
.Z=T&5CnDZ=T5-1.CnD'm=T5-2
.CnDZ=T5100 -3.CnDZ=T510,000 -4.CnDZ=T590,000 -5
:s;*D$%&egQ%&W"%20 s6*gV[y?1f$%&>`g\/8O]6:l&]&;.0S:*k%&-3e%&Eb*V%&'(B1?a 7&Tf%&70_
CWi 1,280 10,000 250
1 240 20,000 100
2 80 30,000 40
T1Dd& 1,600 40,000 10
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T1Dd& 400
AFT$%&/8O]6%99.9>Q> ;0]6X>Q]*g%&[*\*?`%&'J_o*I]:)&-2)TJ9d&X'C?`9%&AFT$%&`$A8z*g:%&T1Dd'%*1$2,&
W"%18 s6*gV[y?1f$%&>`g\/8O]m%=6s;*D$%&egQ%&-/.s;*D$%&egQ%&
.!"#$%&ega'J_m%=8?#V*1(8(700 y~+8c%&[;;&=
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1969
67*8"Q'kR*P%&7I3V"&=e$.&Q=3TaZc3Tx5=3"-2
Ink%&J"!"#$%&s2O18n$%&_"!"#$%&C14km'(QZ
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