LAE stands for __________ and represents additional costs associated with the claims, such as legal defense costs.
A) loss adjustment experience
B) loss adjustment expense
C) loss adjourment expense
D) lost adjustment expense
Correct Answer:
Verified
Q31: The court in Administrative Committee of the
Q32: The goal of the indemnity principle is
Q33: _ are individuals trained in mathematics who
Q34: The amount an insured will receive is
Q35: Insurers often have access to _ data
Q37: The insured may take several steps as
Q38: The high costs and frequency of litigation
Q39: Insurance is largely governed by _ laws
Q40: Congress decided to largely relinquish regulatory control
Q41: An important aspect of insurance regulation is
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