What is the BEST option to reduce your insurance costs if you were recently in an accident?         Drive safely so you don't have any accidents.         Take a safe driving class.         Buy a newer car.         Drive without insurance.

Why does car insurance which explicitly includes ensuring the car for commercial use act to reduce moral hazard

A life insurance company worries that people with low risk of dying will not buy insurance because the premium is too high relative to their risk. What problem does this refer to? adverse selection moral hazard O free rider O negative externality

In his best seller Wealth Without Risk, Charles J. Givens, the self-styled expert on “low-risk ways to achieve and hold on to wealth,” offers the following advice as his  strategy #32: “Buy disability insurance only if you are in poor health or accident prone.” What is your reaction to this “strategy?”

What is the best approach for compensating auto accident victims?

Why do you think people have such a hard time with long-term goals like saving for retirement, getting life insurance or estate planning, yet see the need and importance for this type of think for small things?

Suppose health-care reform Y makes it unlawful for insurance companies to deny insurance to persons with a preexisting disease and sets a fine for those people who do not buy insurance.  It follows that if the fine is   a.  larger than the benefits derived from not buying insurance right away, then people will not buy the insurance and pay the fine.     b.  smaller than the benefits derived from not buying the insurance right away, then people will not buy the insurance and pay the fine.     c.  There is not enough information provided to answer this question.     d.  larger than the benefits derived from not buying insurance right away, then people will buy the insurance right away and not pay the fine.

Discuss the need for automobile insurance as means of protecting the yourself and the public in the safe operations of automobiles.

Which type of risk attitude is exhibited by a property owner who decides to buy property insurance with a higher deductible in order to lower premium costs? a. risk obsessed b. risk seeking c. risk avoiding d. risk optimizing.  Need typed answer only.Please give answer within 45 minutes

Life insurance can be one of the most complex purchases a consumer ever makes. It is also an expensive purchase and often sold by sales-people working on commission, which means they are motivated to make the sale. Whose responsibility is it to make sure purchasers understand the options available to them and understand all the details and ramifications of the specific policies they choose? Why?