Hi, For this question when calculating the unearned risk reserve for the guarantee business why do we assume that all written premiums are eligible for the guarantee and not 1/11ths of it? I'm interpreting the solution as saying that 1/11ths of business will have the guarantee and 10/11ths will not, but I think I might be misunderstanding this. Is it actually the case that all premiums written in the last 4 years have been given the guarantee but from a purely accounting perspective we split the premiums for the UPR between guarantee and non guarantee business with a 1/11 vs 10/11 split? Thanks
