Question

In: Finance

An insurance rate ​is the price charged for each unit of insurance coverage. ​should be sufficient...

An insurance rate

​is the price charged for each unit of insurance coverage.
​should be sufficient to provide coverage for that applicant.
​represents the average cost of providing coverage to various groups of insureds.
​All of these.

Solutions

Expert Solution

A rate is the price per unit of insurance for each exposure unit, which is a unit of liability or property with similar characteristics.

The answer is-

a) is the price charged for each unit of insurance coverage.

jeff jeffy answered 2 years ago
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