Reference no: EM133185697

Question - SuperFang 7058 answered the previous question i see there is a follow-up to this.

The actual incurred limited would be constant for every claim and therefore the following table indicate the values of actual primary.

The Actual primary = Actual incurred -actual incurred limited.

Claims	Actual incurred	actual incurred limited	Actual primary
1	$375,000	$249,500	$125,500
2	$120,000	$249,500	$(129,500)
3	$50,000	$249,500	$(199,500)
Total	$545,000	$748,500	$(203,500)

Required -

Using the above information, what will be the actual cost for each of the losses for company XYZ as these losses pass through the experience rating formula?

What is the formula used to calculate standard workers compensation premium? Give an explanation of each of the components.