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by profile53
987 days ago
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The blanket assertion doesn’t have to be true in every case, it just has to be true on average. Because insurance companies operate on the statistics of all people. Sure, even though Dave has 173 speeding tickets in the past, he may not speed again, but on average he will. > Untrue, there’s little regulation… But this is not true. Not only are there large regulatory bodies whose main purpose is to audit the spending and calculations of insurance firms, but there are also laws on what companies can consider in actuarial calculations (e.g. not race). |
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