URR is an assumption of money that's set aside in order to meet future claims and expenses. This is generally more than the premium which one has to pay for it.
I believe the following link will explain it in a better way - http://www.ampminsure.org/start/insurance-reserves.html
Posted: Sat Jan 01, 2011 12:25 pm Post Subject:
URR is an assumption of money that's set aside in order to meet future claims and expenses. This is generally more than the premium which one has to pay for it.
I believe the following link will explain it in a better way - http://www.ampminsure.org/start/insurance-reserves.html
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