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The Insurance Times 284
where
C = claim count
or, where frequency is per unit of exposure
P =F1 X S
7. Expense profit and contingencies
R= P + F
I-V-Q
Where
R = rate per unit of exposure
P = pure premium
F = fixed expense per exposure
V = variable expense factor
Q = profit and contingencies factor
8. Pure Premium Method
R= P + F
I-V-Q
Where
R = rate per unit of exposure
P = pure premium
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