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Chapter 8 - Determining the Price of Personal Auto Insurance

​In this chapter we will discuss the specifics of how insurance premiums are developed for a particular individual.  It is the underwriter’s job to evaluate the risk presented by an applicant for insurance, determine the appropriate premium to charge based on that risk and decide which coverages and endorsements will be provided. While actuaries, and not underwriters, are responsible for developing rates based on statistics, underwriters still perform a very vital role in determining final premiums.

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