Question
In: Operations Management
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon...
- If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon your answer, please define your attitude (averse, neutral, love) toward risk.
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Expert Solution
If liability insurance is not mandatory for auto drivers then also I will still prefer to purchase it because my attitude to risk is averse, this is because I will try my best to avoid all the type of risk at any cost. Otherwise in next time the burden will come to me in case of any accident. After taking the policy I will have Peace of Mind. The people may get upset with me, they may hit my vehicle. I will not prefer to take risk at all. So my attitude is averse toward the risk
keosha answered 2 years agoRelated Solutions
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon...
If liability insurance is not mandatory for auto driver, will
you still purchase it? Based upon your answer, please define your
attitude (averse, neutral, love) toward risk.
how the legal liability regime and personal auto liability insurance may change with the introduction of...
how the legal liability regime and personal auto liability
insurance may change with the introduction of fully autonomous
vehicles to our environment. If you are hit by a fully autonomous
vehicle with no occupant driving, who is liable for any injuries or
property damage? Do you sue the vehicle owner, vehicle manufacturer
or do we go to some form of no fault liability regime?
Accidents records by an auto insurance company suggest that the probability that an insured driver has...
Accidents records by an auto insurance company suggest that the
probability that an insured driver has an accident is
0.05
If an accident occurs, the damage to the vehicle amounts to an
average of
$6240.
What premium should the insurance company charge, in order to
have an expected profit of
$1000?
On average the insurer should charge
$....
(Round to 2 decimal points.)
Accidents records by an auto insurance company suggest that theprobability that an insured driver has...
Accidents records by an auto insurance company suggest that the
probability that an insured driver has an accident is 0.15.If an
accident occurs, the damage to the vehicle amounts to an average of
5380.What premium should the insurance company charge, in order to
have an expected profit of 2500?a)On average the insurer should charge _? (round to 2 decimal
points.?
Compulsory third party (CTP) insurance covers: a. the legal liability of the driver arising out of...
Compulsory third party (CTP) insurance covers:
a.
the legal liability of the driver arising out of the use of the
vehicle
b.
for damage to the vehicle, whether for repairs or if the vehicle
is a total loss
c.
cover for the insured or the driver (driving with the insured’s
consent) for their legal liability in relation to property damage
as a result of an accident arising out of the use of the
vehicle
d.
both a) and c)
Argue (a) the case for compulsory auto liability insurance laws, and (b) the case against these...
Argue (a) the case for compulsory auto liability insurance laws,
and (b) the case against these laws. DO the same thing for
compulsory PIP coverage assuming no restriction on tort
liability.
Which of the following losses is most likely to be covered under your auto liability insurance?...
Which of the following losses is most likely to be covered under
your auto liability insurance?
a.
an auto repair bill for repairs to the car of a driver who
negligently caused an accident with you.
b.
a legal bill incurred by your insurance company who is defending
you from a claim related to an accident caused by your
negligence.
c.
a medical bill for injuries to a passenger in your car arising
from an accident in which you were...
Auto insurance is required in most states to make sure damages, medical and liability claims can...
Auto insurance is required in most states to make sure damages,
medical and liability claims can be paid. In Alabama what are the
minimum limits required for Automobile insurance? If you traveled
to Alaska would your insurance from Alabama be required to cover
the higher minimum limits set by that state? Why or why not?
Read a current article about personal auto, homeowner or liability insurance and write a brief summary...
Read a current article about personal auto, homeowner or
liability insurance and write a brief summary or commentary.
3. Liability claims in the auto industry? Insurance A) How can one person be held responsible...
3. Liability claims in the auto industry?
Insurance A) How can one person be held responsible for
another’s actions? What is this type of legal
responsibility
called?
B) Identify three categories of direct
commercial liability exposures C) Explain contractual liability and
the nature of
a hold-harmless agreement. D) How do the insurer's interests
sometimes
confict with the professional's interest with respect to the
opporunity
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