Fionaaaa2020-01-26 15:09:26

请问该如何理解notes中关于insurance company earnings的这段话？The underwriting loss ratio measures the relative efficiency of the company’s underwriting standards (whether the policies are priced appropriately relative to risks borne), while the expense ratio measures the efficiency of the company’s operations. underwriting loss ratio不包含underwriting项，却能衡量underwriting的质量；而expense ratio中包含underwriting expense，却是用来衡量公司operation的效率？