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Inadequately pricing the promise of insurance - PACICC

Inadequately pricing the promise of insurance - PACICC

www.pacicc.com

iii Executive summary Insurance is a promise to pay claims in the future in exchange for premiums today.Confidence in the industry rests upon the foundation that these claims will be paid. Over the past 30 years, inadequate pricing and reserving has been the leading cause of failure for Canada’s insurers.

  Pricing, Promise, Inadequately pricing the promise of, Inadequately

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