The Use of Credit-Scoring in Setting Premiums
How Are Insurance Premiums Determined? Insurance is often said to rely upon the law of large numbers in which a large number of people facing a common risk come together to share the costs of that risk. It’s really fairly simple – everyone pays a premium, and when you have a “covered” loss, you collect […]
Reading...Municipal Emergency Response Fees (Accident Taxes)
Background on Emergency Response Fees In many states, particularly in the Midwest, many local communities have begun the practice of instituting “emergency response fees” that are billed to those involved in an auto accident or other incidents that require a response by emergency first responders. These fees charged are in addition to the taxes already […]
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