why just mutual and not stock companies, also?
who gets to determine what would cause 20% loss of surplus? the companies actuarial department might think differenly than the D of I. State Farm is a mutual company; how much reinsurance should they buy?
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why just mutual and not stock companies, also?
who gets to determine what would cause 20% loss of surplus? the companies actuarial department might think differenly than the D of I. State Farm is a mutual company; how much reinsurance should they buy?