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Why didn't insurers keep track of his record of filing claims and charge increasingly high premiums after his super-early claims?
by SilasX 6y ago
Why didn't insurers keep track of his record of filing claims and charge increasingly high premiums after his super-early claims?
- techsupporter 6y agoThey do; check out the Comprehensive Loss Underwriting Exchange ("CLUE report"), for example. But just like any other business, there's always another company willing to take a chance at a high-but-not-too-high premium, especially if you're flashy enough with their agent. If the previous losses looked "plausible" or "unlikely to happen again" or the insured "has the financials of a good risk" or whatever, the policy will get written.