An expense ratio combined with a loss ratio. In underwriting, a loss occurs if the combined ratio is under 100 percent and a profit occurs if the combined ratio is over 100 percent.
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US: Basically, a measure of the relationship between dollars spent for claims and expenses and premium dollars taken in; more specifically, the sum of the ratio of losses incurred to premiums earned and the ratio of commissions and expenses incurred to premiums written. A ratio above 100 means that for every premium dollar taken in, more than a dollar went for losses, expenses, and
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“The combined ratio is a measure of an insurance company’s profitability from operations and is a combination of the claims ratio and the expense ratio. The claims ratio is the claims owed as a percentage of premiums paid. The expense ratio is the operating costs as a percentage of paid premiums. The combined ratio, then,Combined Ratio = Claims owed + Operating Costs/ PremiumsA combined ratio of less than 100% indicates an underwriting profit and a ratio above 100% means the company is paying more in claims than it is receiving in

premiums.”
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US: The sum of two ratios, one calculated by dividing incurred losses plus loss adjustment expense (LAE) by earned premiums (the calendar year loss ratio), and the other calculated by dividing all other expenses by either written or earned premiums (i.e., trade basis or statutory basis expense ratio). When applied to a company’s overall results, the combined ratio is also referred to as the composite, or statutory, ratio. Used in both insurance and reinsurance, a combined ratio below 100 percent is indicative of an underwriting profit.
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UK: The sum of two ratios: (a) incurred loss ratio (the ratio of losses incurred as a percentage of the net earned premium); and (b) the expense ratio (ratio of expenses incurred as a percentage of the net earned premium). If below 100 per cent it means an underwriting profit without taking account of investment income.
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Total of an Insurer’s Underwriting ratio (usually defined as incurred losses divided by earned premiums) and expenses ratio (usually defined as operating expenses incurred divided by net premiums written). An Insurer’s percentage of Underwriting profit (or loss) can be measured by the number of percentage points is combined ratio is less (or more) than 1.00.

A measure of the profitability of an insurer’s day-to-day underwriting activity. It is the ratio of claim-related losses (net of reinsurance) and expenses to earned premiums (net of reinsurance).

Liability policies commonly offer separate limits that apply to bodily injury claims and to claims for property damage. 50/100/25 is shorthand under such a policy for $50,000 per person/$100,000 per accident for bodily injury claims and $25,000 for property damage. A combined single limits policy might cover for $100,000 per covered occurrence whether bodily injury or property damage, one person or many.
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Single limit of liability coverage for both bodily injury and/or property damage, contrasted with split limits, where specific limits apply to bodily injury and property damage separately.

Any substance capable of burning.

A liquid having a flash point at or above 100o F.

A portable instrument that detects hydrocarbon vapors. It is used to determine if accelerants were used in a suspicious fire. It is sometimes called a sniffer.