FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Discuss how and why an Insurance Company prices/determines a premium. For example, why does an 18 year old male, living in Astoria, Queens, driving a

Discuss how and why an Insurance Company prices/determines a premium. For example, why does an 18 year old male, living in Astoria, Queens, driving a 2016 Corvette, pay a higher premium on his Auto Insurance policy than a 53 year old male, living in Montana, driving a 2015 Honda Accord. EXPLAIN IN DETAIL

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Ontology And Function Of Money The Philosophical Fundamentals Of Monetary Institutions

The Ontology And Function Of Money The Philosophical Fundamentals Of Monetary Institutions

Authors: Leonidas Zelmanovitz

1st Edition

0739195115,0739195123

More Books

Students also viewed these Finance questions

Question

★★★★★
In the kinked demand model, what is assumed about rival responses to price increases? Price decreases? What does that imply about anticipated elasticities of demand as a result?

Answered: 1 week ago

Question

★★★★★
How does a tight scheduling system take advantage of the directional activity of delegation?

Answered: 1 week ago

Question

★★★★★
1. Think of a widespread health concern, such as disaster preparedness, safer sex, or responsible drinking. In what way is the issue represented in the personal sphere? In the technical sphere? In...

Answered: 1 week ago

Question

★★★★★
Beacon Company maintains and repairs warnings lights, such as those found on radio towers and lighthouses. Beacon Company prepared the end-of-period spreadsheet shown on the next page at October 31,...

Answered: 1 week ago

Question

★★★★★
Elaborate on rate of return and risk for diverse industries cross-sectionally and inter temporally. What are its determinants, and how do they affect it

Answered: 1 week ago

Question

★★★★★
you reviewed ratios and analyzed the results from the perspective of an external decision maker. Now consider how a manager would use the same information and how the manager's perspective and...

Answered: 1 week ago

Question

★★★★★
McGinn Company purchased 10% of RJ Company's common stock during 2019 for $100,000. The 10% investment in RJ had a $90,000 fair value at the end of 2019 and a $105,000 fair value at the end of 2020....

Answered: 1 week ago

Question

★★★★★
Questions: How much overhead cost is allocated to product A and product B? What is the cost per unit of A and B? What is the selling price per unit of A and B, assuming a mark-up of 40% of cost. A...

Answered: 1 week ago

Question

★★★★★
NORMAL DISTRIBUTIONS PRACTICE 1. For each problem below draw a picture of the normal curve and shade the area you have to find. Let Z represent a variable following a standard normal distribution. a)...

Answered: 1 week ago

Question

★★★★★
Question 13 (2 points) The following data are available about Mamita Company who uses job order cost system: 2017 Balances 2018 Balances 2019 Balances Beginning materials inventory P100,000 ?...

Answered: 1 week ago

Question

★★★★★
Assume that a simple random sample has been selected and test the given claim. Listed below are the lead concentrations in g/g measured in different traditional medicines. Use a 0.05 significance...

Answered: 1 week ago

Previous Question Next Question