(i) Ratio of losses suffered to the amount of insurance in effect. (ii) Ratio of actual Fire loss to the total value of the property that could burn. (iii) Ratio of loss by Fire to Fire Insurance in force.
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The amount of losses suffered as compared to the amount of insurance in effect.
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UK: The ratio of actual losses (i.e. excluding IBNR) to the amount of earned premiums.
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The ratio of losses to the amount insured.