Multiple Choice
From the insurance company's perspective, what is the difference between written premium and earned premium?
A) There is no difference; they are effectively the same thing.
B) Written premiums are those that belong to the insurer; earned premiums do not belong to the insurer.
C) Written premiums are the total premiums collected by the insurer; earned premiums are those that belong to the insurer.
D) Written premiums reflect the total amount of coverage provided to insureds; earned premiums reflect the net profit of the insurer.
Correct Answer:
Verified
Correct Answer:
Verified
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