A Combined Ratio Above One Hundred Means That, For

A combined ratio above one hundred means that, for:

A) every dollar given out for expenses, more than a dollar was spent on losses.
B) every premium dollar taken in, more than a dollar was spent on losses and expenses.
C) every dollar spent on expenses, more than a premium dollar is taken in.
D) every premium dollar taken in, more than a dollar is gained as profit through investment.
E) every dollar spent for insurance claims, more than a premium dollar is taken in.