Calculate the earned premium

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Reference no: EM133611492

Question: Albanese Co. is an insurance company specializing in short-term insurance products. You are given the following data from one of its products. Calendar year Earned premium CY1 2,000 CY2 3,000 CY3 4,000 Assume all policies are six-month policies and that the policies are issued uniformly through- out the year. The following rate changes have occurred: Date Rate Change September 1, CY1 +8% July 1, CY2 +10% April 1, CY3 -5% Using the parallelogram method, calculate the earned premium for CY1, CY2, and CY3 based on current rates.

Reference no: EM133611492

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