Explain how insurance rates are set.
What will be an ideal response?
Insurance rates are the fee structures that are assigned to a particular company. These fee structures are based on several different criteria, including:
• Potential claims by employees.
• Expenses/losses of the insurer.
• Profits to be made from premiums.
The criteria are then evaluated and used to calculate potential profits for the insurance company.
You might also like to view...
An item not named in a search warrant may not be seized during a search for named items.
Answer the following statement true (T) or false (F)
Erecting a fence along the boundary line of property, or erecting a home is consistent with the right of:
A. Partition B. Possession C. Encumbrance D. Alienation
Closed captioning has been used as by people unfamiliar with the English language as an aid in helping them to read as well as pronounce words
Indicate whether the statement is true or false
The key issue in a design defect case based on strict liability is the reasonableness of the manufacturer.
Answer the following statement true (T) or false (F)