- 92 -
Claims Over EVC's less
Year EVC's $100 Paid1 Claims Paid Ratio2
1979 $49,200,000 $13,800,000 $35,400,000 72.0%
1980 57,900,000 16,200,000 41,700,000 72.0
1981 70,512,000 20,007,000 50,505,000 71.6
1982 73,816,000 21,372,000 52,444,000 71.0
1983 78,000,000 23,000,000 55,000,000 70.5
1984 99,794,790 22,084,012 77,710,778 77.9
1985 119,077,863 36,236,469 82,841,394 69.6
1986 140,255,469 43,499,702 96,755,767 69.0
1987 161,098,590 52,509,376 108,589,214 67.4
1988 187,106,344 67,230,962 119,875,382 64.1
1989 208,596,033 77,214,084 131,378,949 63.0
1Amounts in this column for 1979 and 1980 are estimated
amounts.
2This column represents the ratio of excess value income
less claims paid divided by total excess value income.
Petitioner's excess value claims payments over 11 years never
exceeded 40 percent of the total excess value income.
Considering the consistency of the ratio of loss claims payments
to EVC revenue from year to year, we find that the possibility
that total cumulative annual payments for shipping losses from
single occurrences involving less than $25,000 might exceed EVC
revenue was so remote, that for all practical purposes, it was
Page: Previous 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 NextLast modified: May 25, 2011