tag:blogger.com,1999:blog-63796267055827455062024-02-08T03:06:14.843-08:00Worldwide InsurancesPrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-6379626705582745506.post-25677002281674119562015-01-29T23:35:00.002-08:002015-01-29T23:35:21.106-08:00Child Education Plan<table border="0" cellpadding="0" cellspacing="0" style="background-color: white; color: #666666; font-family: Tahoma, Arial, sans-serif; font-size: 11px; line-height: 15px; width: 560px;"><tbody>
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<tr><td>The child education policy is a <a href="http://www.insuranceinfo.com.my/choose_your_cover/secure_your_future/life_insurance.php?intPrefLangID=1&" style="color: #237adc; font-size: 11px; line-height: 14px;">life insurance</a> product specially designed as a savings tool to provide an amount of money when your child reaches the age for entry into college (18 years and above). The funds can be used to pay for your child's higher education expenses. Under this policy, the child is the life assured, while the parent/legal guardian is the policy owner.<br /><br />If you opt for a <a href="http://www.insuranceinfo.com.my/choose_your_cover/secure_your_future/child_education_plan.php?intPrefLangID=1#" style="color: #237adc; font-size: 11px; line-height: 14px;">payor benefit rider</a>, the education policy also provides assurance that, in the event of the policy owner's untimely demise, the child will have access to the funds to help finance his or her studies.</td></tr>
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<tr><td><strong class="smalltext2" style="font-size: 10px;">Things I Should Know</strong></td></tr>
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<tr><td valign="top" width="12"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td><a class="orangelinks" href="http://www.insuranceinfo.com.my/choose_your_cover/things_to_note/child_edu_plan.php?intPrefLangID=1&" style="color: #666666; font-family: Tahoma; font-size: 10px; line-height: 14px; text-decoration: none;">Choosing the level of coverage</a></td></tr>
<tr><td valign="top"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td><a class="orangelinks" href="http://www.insuranceinfo.com.my/choose_your_cover/things_to_note/child_edu_plan.php?intPrefLangID=1&#content2" style="color: #666666; font-family: Tahoma; font-size: 10px; line-height: 14px; text-decoration: none;">Tips on buying a child education policy</a></td></tr>
<tr><td valign="top"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td><a class="orangelinks" href="http://www.insuranceinfo.com.my/choose_your_cover/things_to_note/child_edu_plan.php?intPrefLangID=1&#content3" style="color: #666666; font-family: Tahoma; font-size: 10px; line-height: 14px; text-decoration: none;">Making a claim</a></td></tr>
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<tr><td><strong class="smalltext2" style="font-size: 10px;">What Else Can I Do?</strong></td></tr>
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<tr><td valign="top" width="12"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td class="smalltext2" style="font-size: 10px;"><a class="orangelinks" href="http://www.insuranceinfo.com.my/help_and_advice/faq_child_edu_insurance.php?intPrefLangID=1&" style="color: #666666; font-family: Tahoma; line-height: 14px; text-decoration: none;">Read our FAQs on child education plan</a></td></tr>
<tr><td valign="top" width="12"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td class="smalltext2" style="font-size: 10px;"><a class="orangelinks" href="http://www.insuranceinfo.com.my/_system/media/downloadables/child_edu_plan.pdf" style="color: #666666; font-family: Tahoma; line-height: 14px; text-decoration: none;" target="_blank">Download the booklet on child education plan</a></td></tr>
<tr><td width="12"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td class="smalltext2" style="font-size: 10px;"><a class="orangelinks" href="https://www.blogger.com/null" style="color: #666666; font-family: Tahoma; line-height: 14px;">Email this to a friend</a></td></tr>
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<tr><td valign="top"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /><br /><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/icon_orange_arrow.gif" width="5" /></td><td class="smalltext2" style="font-size: 10px;"><a class="orangelinks" href="http://www.insuranceinfo.com.my/help_and_advice/contact_us.php?intPrefLangID=1&" style="color: #666666; font-family: Tahoma; line-height: 14px; text-decoration: none;">Give us your feedback</a></td></tr>
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<tr><td width="6"><img src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet2.gif" /></td><td width="10"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="11" /></td><td width="354"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/choose_your_cover/secure_future/child_education_plan/textheading1.gif" width="287" /></td><td width="100%"><table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody>
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<tr><td>The cost of higher education is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child's education as soon as possible, because the earlier you begin, the more time you allow your money to grow. The child education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life.</td></tr>
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<tr><td width="6"><img src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet2.gif" /></td><td width="11"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="11" /></td><td width="109"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/choose_your_cover/secure_future/child_education_plan/textheading2.gif" width="101" /></td><td width="189"><table border="0" cellpadding="0" cellspacing="0" style="width: 434px;"><tbody>
<tr><td><img height="7" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
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<tr><td>When choosing a policy, always:</td></tr>
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<tr><td><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Consider how much money you want to set aside for your child’s education.</td></tr>
<tr><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Make sure that the premium is affordable.</td></tr>
<tr><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Choose a policy that gives you flexibility so you can gradually increase the savings in the future.</td></tr>
<tr><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="2" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td width="12"><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Ensure that you opt for the payor benefit rider.</td></tr>
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<tr><td>For more tips on buying a child education policy, read <a href="http://www.insuranceinfo.com.my/choose_your_cover/things_to_note/child_edu_plan.php?intPrefLangID=1&" style="color: #237adc; line-height: 14px;">things to note</a>.</td></tr>
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<tr><td width="6"><img src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet2.gif" /></td><td width="11"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="11" /></td><td width="127"><img height="8" src="http://www.insuranceinfo.com.my/_system/media/images/choose_your_cover/secure_future/child_education_plan/textheading3.gif" width="119" /></td><td width="416"><table border="0" cellpadding="0" cellspacing="0" style="width: 416px;"><tbody>
<tr><td><img height="7" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
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<tr><td> </td></tr>
<tr><td height="300" valign="top"><table border="0" cellpadding="0" cellspacing="0" style="height: 300px; width: 560px;"><tbody>
<tr><td style="background-image: url(http://www.insuranceinfo.com.my/_system/media/images/choose_your_cover/secure_future/child_education_plan/tabs_image1.gif); background-repeat: no-repeat;" valign="top" width="278"><table border="0" cellpadding="0" cellspacing="0" style="width: 278px;"><tbody>
<tr><td width="12"><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td width="19"><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td> </td><td><strong class="smallwhitebold" style="color: white; font-size: 10px;">Endowment policy</strong></td><td> </td></tr>
<tr><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td> </td><td><table border="0" cellpadding="0" cellspacing="0" style="width: 247px;"><tbody>
<tr><td valign="top" width="10"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>An endowment policy combines a savings component with protection coverage.</td></tr>
<tr><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td valign="top"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Endowment policies may be either participating or non-participating.</td></tr>
<tr><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td valign="top"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Non-participating policies do not participate in the life insurance fund’s profits but all insurance benefits are fully guaranteed.</td></tr>
<tr><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="21" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td valign="top"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>Participating policies have a portion of insurance benefits guaranteed, however the total amount of benefits at maturity is not guaranteed because it depends on the insurance company’s life insurance fund’s performance.</td></tr>
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</td><td width="4"> </td><td style="background-image: url(http://www.insuranceinfo.com.my/_system/media/images/choose_your_cover/secure_future/child_education_plan/tabs_image2.gif); background-repeat: no-repeat;" valign="top" width="278"><table border="0" cellpadding="0" cellspacing="0" style="width: 278px;"><tbody>
<tr><td width="12"><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td width="19"><img height="3" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td> </td><td><strong class="smallwhitebold" style="color: white; font-size: 10px;">Investment-linked policy</strong></td><td> </td></tr>
<tr><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="19" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td> </td><td><table border="0" cellpadding="0" cellspacing="0" style="width: 247px;"><tbody>
<tr><td valign="top" width="10"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>An investment-linked policy combines the elements of investment and protection based on your requirement as the policy owner.</td></tr>
<tr><td><img height="20" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="20" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td valign="top"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>It offers flexibility as you are able to increase or top-up your monthly premium contribution as your income improves. You may also be more aggressive with your investment.</td></tr>
<tr><td><img height="20" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td><td><img height="20" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" width="1" /></td></tr>
<tr><td valign="top"><img height="5" src="http://www.insuranceinfo.com.my/_system/media/images/spacer.gif" /><br /><img height="4" src="http://www.insuranceinfo.com.my/_system/media/images/icon_bullet.gif" width="4" /></td><td>An investment-linked policy will allow you to choose the types of funds your money will be invested in. However, like any other investment, there are risks involved and there is no guarantee on the returns, which may be higher or lower than the amount projected.</td></tr>
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<tr><td>For more details, please read our <a href="http://www.insuranceinfo.com.my/choose_your_cover/things_to_note/child_edu_plan.php?intPrefLangID=1&" style="color: #237adc; line-height: 14px;">things to note</a> on child education planning or view our <a href="http://www.insuranceinfo.com.my/help_and_advice/faq.php?intPrefLangID=1&" style="color: #237adc; line-height: 14px;">FAQ</a>'s if you have any questions about the policy. Or you can contact an<a href="http://www.bnm.gov.my/index.php?ch=13&cat=insurance" style="color: #237adc; line-height: 14px;" target="_blank"> insurance company</a> of your choice to find out more about the child education plan.</td></tr>
<tr><td><br />Source: http://www.insuranceinfo.com.my/choose_your_cover/secure_your_future/child_education_plan.php?intPrefLangID=1</td></tr>
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PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-56529616610814047622013-05-06T00:35:00.001-07:002015-02-13T20:56:51.076-08:00Vehicle Insurance<br />
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<b>Vehicle insurance</b> (also known as <b>auto insurance</b>, <b><a class="mw-redirect" href="http://en.wikipedia.org/wiki/GAP_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GAP insurance">GAP insurance</a></b>, <b>car insurance</b>, or <b>motor insurance</b>) is <a href="http://en.wikipedia.org/wiki/Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance">insurance</a> purchased for <a href="http://en.wikipedia.org/wiki/Automobile" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Automobile">cars</a>, <a href="http://en.wikipedia.org/wiki/Truck" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Truck">trucks</a>,<a href="http://en.wikipedia.org/wiki/Motorcycle" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motorcycle">motorcycles</a>, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from <a href="http://en.wikipedia.org/wiki/Traffic_collision" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Traffic collision">traffic collisions</a> and against <a href="http://en.wikipedia.org/wiki/Legal_liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Legal liability">liability</a> that could also arise therefrom. The specific terms of vehicle insurance vary with legal <a href="http://en.wikipedia.org/wiki/Regulation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Regulation">regulations</a> in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.</div>
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Contents</h2>
<span class="toctoggle" style="-webkit-user-select: none; font-size: 11px;"> [<a class="internal" href="http://en.wikipedia.org/wiki/Vehicle_insurance#" id="togglelink" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">hide</a>] </span></div>
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<li class="toclevel-1 tocsection-1" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Public_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1</span> <span class="toctext">Public policies</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-2" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.1</span> <span class="toctext">Australia</span></a></li>
<li class="toclevel-2 tocsection-3" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Canada" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.2</span> <span class="toctext">Canada</span></a></li>
<li class="toclevel-2 tocsection-4" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Germany" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.3</span> <span class="toctext">Germany</span></a></li>
<li class="toclevel-2 tocsection-5" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Hungary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.4</span> <span class="toctext">Hungary</span></a></li>
<li class="toclevel-2 tocsection-6" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Indonesia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.5</span> <span class="toctext">Indonesia</span></a></li>
<li class="toclevel-2 tocsection-7" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#India" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.6</span> <span class="toctext">India</span></a></li>
<li class="toclevel-2 tocsection-8" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.7</span> <span class="toctext">Ireland</span></a></li>
<li class="toclevel-2 tocsection-9" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#New_Zealand" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.8</span> <span class="toctext">New Zealand</span></a></li>
<li class="toclevel-2 tocsection-10" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Norway" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.9</span> <span class="toctext">Norway</span></a></li>
<li class="toclevel-2 tocsection-11" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Romania" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.10</span> <span class="toctext">Romania</span></a></li>
<li class="toclevel-2 tocsection-12" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#South_Africa" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.11</span> <span class="toctext">South Africa</span></a></li>
<li class="toclevel-2 tocsection-13" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_Kingdom" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12</span> <span class="toctext">United Kingdom</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-14" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Investigation_into_repair_costs_.26_fraudulent_claims" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12.1</span> <span class="toctext">Investigation into repair costs & fraudulent claims</span></a></li>
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</li>
<li class="toclevel-2 tocsection-15" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.13</span> <span class="toctext">United States</span></a></li>
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<li class="toclevel-1 tocsection-16" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Coverage_levels" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">2</span> <span class="toctext">Coverage levels</span></a></li>
<li class="toclevel-1 tocsection-17" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3</span> <span class="toctext">Excess</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-18" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Compulsory_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.1</span> <span class="toctext">Compulsory excess</span></a></li>
<li class="toclevel-2 tocsection-19" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Voluntary_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.2</span> <span class="toctext">Voluntary excess</span></a></li>
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</li>
<li class="toclevel-1 tocsection-20" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Basis_of_premium_charges" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4</span> <span class="toctext">Basis of premium charges</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-21" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.1</span> <span class="toctext">Gender</span></a></li>
<li class="toclevel-2 tocsection-22" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Age" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.2</span> <span class="toctext">Age</span></a></li>
<li class="toclevel-2 tocsection-23" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#U.S._driving_history" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.3</span> <span class="toctext">U.S. driving history</span></a></li>
<li class="toclevel-2 tocsection-24" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Marital_status" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.4</span> <span class="toctext">Marital status</span></a></li>
<li class="toclevel-2 tocsection-25" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Vehicle_classification" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.5</span> <span class="toctext">Vehicle classification</span></a></li>
<li class="toclevel-2 tocsection-26" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Distance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6</span> <span class="toctext">Distance</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-27" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Reasonable_distance_estimation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.1</span> <span class="toctext">Reasonable distance estimation</span></a></li>
<li class="toclevel-3 tocsection-28" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Odometer-based_systems" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.2</span> <span class="toctext">Odometer-based systems</span></a></li>
<li class="toclevel-3 tocsection-29" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#GPS-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.3</span> <span class="toctext">GPS-based system</span></a></li>
<li class="toclevel-3 tocsection-30" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#OBDII-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.4</span> <span class="toctext">OBDII-based system</span></a></li>
</ul>
</li>
<li class="toclevel-2 tocsection-31" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Credit_ratings" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.7</span> <span class="toctext">Credit ratings</span></a></li>
<li class="toclevel-2 tocsection-32" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Behavior-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.8</span> <span class="toctext">Behavior-based insurance</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-33" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Repair_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">5</span> <span class="toctext">Repair insurance</span></a></li>
<li class="toclevel-1 tocsection-34" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#See_also" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">6</span> <span class="toctext">See also</span></a></li>
<li class="toclevel-1 tocsection-35" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#References" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">7</span> <span class="toctext">References</span></a></li>
<li class="toclevel-1 tocsection-36" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#External_links" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">8</span> <span class="toctext">External links</span></a></li>
</ul>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Public policies">edit</a>]</span><span class="mw-headline" id="Public_policies">Public policies</span></h2>
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In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly.</div>
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Several jurisdictions have experimented with a "pay-as-you-drive" insurance plan which is paid through a gasoline tax (petrol tax). This would address issues of uninsured motorists and also charge based on the miles (kilometres) driven, which could theoretically increase the efficiency of the insurance, through streamlined collection.<sup class="reference" id="cite_ref-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[1]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Australia">edit</a>]</span><span class="mw-headline" id="Australia">Australia</span></h3>
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In <a href="http://en.wikipedia.org/wiki/New_South_Wales" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="New South Wales">New South Wales</a> and the <a href="http://en.wikipedia.org/wiki/Northern_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Territory">Northern Territory</a> Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. A 'Green Slip,'<sup class="reference" id="cite_ref-2" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[2]</a></sup> another name by which CTP Insurance is commonly known due to the colour of the pages which the form is printed on, must be obtained through one of the five licenced insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA now also supplies CTP but is only for over 50's who are no longer working full-time.</div>
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A similar scheme applies in the <a href="http://en.wikipedia.org/wiki/Australian_Capital_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Australian Capital Territory">Australian Capital Territory</a>. Currently, Insurance Australia Limited (NRMA) is the only CTP Insurer in the ACT.</div>
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In <a href="http://en.wikipedia.org/wiki/Victoria_(Australia)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Victoria (Australia)">Victoria</a>, Third Party Personal insurance from the <a href="http://en.wikipedia.org/wiki/Transport_Accident_Commission" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Transport Accident Commission">Transport Accident Commission</a> is similarly included, through a levy, in the vehicle registration fee.</div>
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In <a href="http://en.wikipedia.org/wiki/Queensland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Queensland">Queensland</a>, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight band.</div>
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In <a href="http://en.wikipedia.org/wiki/South_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="South Australia">South Australia</a>, Third Party Personal insurance from the <a class="new" href="http://en.wikipedia.org/w/index.php?title=Motor_Accident_Commission&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Motor Accident Commission (page does not exist)">Motor Accident Commission</a> is included in the <a href="http://en.wikipedia.org/wiki/Driver%27s_license" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Driver's license">licence</a> registration fee for people over 17. A similar scheme applies in <a href="http://en.wikipedia.org/wiki/Western_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Western Australia">Western Australia</a>.</div>
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These state based third party insurance schemes usually cover only personal injury liability. Comprehensive and Third Party Property insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.</div>
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CTP only covers personal injury liability.</div>
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Third Party Property Insurance covers damage to someone else's property or vehicle, but not your own vehicle.</div>
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Third Party Property Insurance with Fire and Theft is the same as above, but will cover your vehicle in the event of fire or theft normally up to maximum of $5,000.</div>
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Comprehensive Insurance covers damage to someone else's property or vehicle as well as your own.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Canada">edit</a>]</span><span class="mw-headline" id="Canada">Canada</span></h3>
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Several Canadian provinces (<a href="http://en.wikipedia.org/wiki/British_Columbia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="British Columbia">British Columbia</a>, <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, <a href="http://en.wikipedia.org/wiki/Manitoba" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Manitoba">Manitoba</a> and <a href="http://en.wikipedia.org/wiki/Quebec" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Quebec">Quebec</a>) provide a <a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">public auto insurance</a> system while in the rest of the country insurance is provided privately. Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for <a href="http://en.wikipedia.org/wiki/Newfoundland_and_Labrador" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Newfoundland and Labrador">Newfoundland and Labrador</a>. All provinces in Canada have some form of <a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No-fault insurance">no-fault insurance</a> available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international assailant must provide themselves with Canadian Insurance. The IIB is reinstated every time the international assailant enters the country. Damage to the driver's own vehicle is optional – one notable exception to this is in <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, where <a href="http://en.wikipedia.org/wiki/Saskatchewan_Government_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan Government Insurance">SGI</a> provides collision coverage (less than a $1000<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, such as a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Collision_damage_waiver" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Collision damage waiver">collision damage waiver</a>) as part of its basic insurance policy. In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.<sup class="reference" id="cite_ref-ibc_3-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-ibc-3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[3]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Germany">edit</a>]</span><span class="mw-headline" id="Germany">Germany</span></h3>
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Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany. Besides, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurances are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.<sup class="reference" id="cite_ref-4" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[4]</a></sup></div>
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The minimum coverage defined by Germany law for car liability insurance / third party personal insurance is:<br />7.5 million euro for bodily injury (damage to people), 1 million euro for property damage and 50,000 euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. Indeed Insurance Companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of 8 to 15 million euro for EACH bodily injured person).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Hungary">edit</a>]</span><span class="mw-headline" id="Hungary">Hungary</span></h3>
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Third-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 500M (about €1.8M) per accident without deductible. The coverage is extended to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 1,250M (about €4.5M) in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border.<sup class="reference" id="cite_ref-5" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[5]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Indonesia">edit</a>]</span><span class="mw-headline" id="Indonesia">Indonesia</span></h3>
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Third-party vehicle Insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. Third Party vehicle insurance is included through a levy in the vehicle registration fee which is paid to government institution that known as "Samsat". Third-Party Vehicle Insurance is regulated under Act No. 34 Year 1964 Re: Road Traffic Accident Fund and merely covers Bodily injury, and managed by a SOE named PT. Jasa Raharja (Persero).<sup class="reference" id="cite_ref-6" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[6]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: India">edit</a>]</span><span class="mw-headline" id="India">India</span></h3>
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A Sample Vehicle Insurance Certificate in India</div>
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Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides <i>accident cover for individual owners</i> of the vehicle while driving and also for <i>passengers and third party legal liability</i>. There are certain general insurance companies who also offer online insurance service for the vehicle.</div>
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Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India, like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.</div>
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There are different types of Auto Insurance in India :</div>
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Private Car Insurance – In the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.</div>
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Two Wheeler Insurance – The Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.</div>
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Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:</div>
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<li style="margin-bottom: 0.1em;">Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.</li>
<li style="margin-bottom: 0.1em;">Liability for third party injury/death, third party property and liability to paid driver</li>
<li style="margin-bottom: 0.1em;">On payment of appropriate additional premium, loss/damage to electrical/electronic accessories</li>
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The auto insurance does not include:</div>
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<li style="margin-bottom: 0.1em;">Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage</li>
<li style="margin-bottom: 0.1em;">When vehicle is used outside the geographical area</li>
<li style="margin-bottom: 0.1em;">War or nuclear perils and drunken driving</li>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Ireland">edit</a>]</span><span class="mw-headline" id="Ireland">Ireland</span></h3>
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The Road Traffic Act, 1933 requires all drivers of mechanically propelled vehicles in public places to have at least third-party insurance, or to have obtained exemption – generally by depositing a (large) sum of money with the High Court as a guarantee against claims. In 1933 this figure was set at <a href="http://en.wikipedia.org/wiki/IEP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="IEP">£</a>15,000.<sup class="reference" id="cite_ref-7" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[7]</a></sup> The Road Traffic Act, 1961<sup class="reference" id="cite_ref-8" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[8]</a></sup> (which is currently in force) repealed the 1933 act but replaced these sections with functionally identical sections.</div>
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From 1968, those making deposits require the consent of the Minister for Transport to do so, with the sum specified by the Minister.</div>
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Those not exempted from obtaining insurance must obtain a certificate of insurance from their insurance provider, and display a portion of this (an <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_disc&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance disc (page does not exist)">insurance disc</a>) on their vehicles windscreen (if fitted). The certificate in full must be presented to a police station within ten days if requested by an officer. Proof of having insurance or an exemption must also be provided to pay for the <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Motor_Tax_in_the_Republic_of_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Tax in the Republic of Ireland">motor tax</a>.</div>
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Those injured or suffering property damage/loss due to uninsured drivers can claim against the Motor Insurance Bureau of Ireland's uninsured drivers fund, as can those injured (but not those suffering damage or loss) from hit and run offences.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: New Zealand">edit</a>]</span><span class="mw-headline" id="New_Zealand">New Zealand</span></h3>
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Within New Zealand, the <a href="http://en.wikipedia.org/wiki/Accident_Compensation_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Accident Compensation Corporation">Accident Compensation Corporation</a> (ACC) provides nationwide no-fault personal injury insurance.<sup class="reference" id="cite_ref-9" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[9]</a></sup> Injuries involving motor vehicles operating on public roads are covered by the Motor Vehicle Account, for which premiums are collected through levies on petrol and through vehicle licensing fees.<sup class="reference" id="cite_ref-10" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[10]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Norway">edit</a>]</span><span class="mw-headline" id="Norway">Norway</span></h3>
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In Norway, the vehicle owner must provide the minimum of liability insurance for his vehicle(s) – of any kind. Otherwise, the vehicle is illegal to use. If a person drives a vehicle belonging to someone else, and has an accident, the insurance will cover for damage done.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Romania">edit</a>]</span><span class="mw-headline" id="Romania">Romania</span></h3>
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Romanian law mandates <a href="http://en.wikipedia.org/wiki/Civil_Auto_Liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Civil Auto Liability">Răspundere Auto Civilă</a>, a motor-vehicle liability insurance for all vehicle owners to cover damages to third parties.<sup class="reference" id="cite_ref-11" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[11]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: South Africa">edit</a>]</span><span class="mw-headline" id="South_Africa">South Africa</span></h3>
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South Africa allocates a percentage of the money from gasoline into the <a href="http://en.wikipedia.org/wiki/Road_Accident_Fund" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Road Accident Fund">Road Accident Fund</a>, which goes towards compensating third parties in accidents.<sup class="reference" id="cite_ref-12" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[12]</a></sup><sup class="reference" id="cite_ref-13" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[13]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United Kingdom">edit</a>]</span><span class="mw-headline" id="United_Kingdom">United Kingdom</span></h3>
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Uninsured cars seized by the <a href="http://en.wikipedia.org/wiki/Merseyside_Police" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Merseyside Police">Merseyside Police</a> on display outside the force's headquarters in 2006</div>
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In 1930, the UK government introduced a law that required every person who used a vehicle on the road to have at least third party personal injury insurance. Today, UK law is defined by the <a class="external text" href="http://www.legislation.gov.uk/ukpga/1988/52/contents" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act 1988</a>, which was last modified in 1991. The Act requires that motorists either be insured, have a security, or have made a specified deposit (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/GBP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GBP">£</a>500,000 as of 1991) with the Accountant General of the Supreme Court, against their liability for injuries to others (including passengers) and for damage to other persons' property, resulting from use of a vehicle on a public road or in other public places.</div>
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It is an offense to use a car, or allow others to use it, without the insurance that satisfies the act whilst on the public highway (or public place Section 143(1)(a) RTA 1988 as amended 1991); however, no such legislation applies on private land.</div>
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<i><a href="http://en.wikipedia.org/wiki/RTA_Insurer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="RTA Insurer">Road Traffic Act Only Insurance</a></i> differs from <i>Third Party Only Insurance</i> (detailed below) and is not often sold. It provides the very minimum cover to satisfy the requirements of the Act. For example <i>Road Traffic Act Only Insurance</i> has a limit of £1,000,000 for damage to third party property – third party only insurance typically has a greater limit for third party property damage. As a result of costly claims, insurance companies can now no longer place a limit on the amount that they are liable for in the event of a claim by 3rd parties against a legitimate policy. This can be explained in part by the<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Great_Heck_Rail_Crash" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Great Heck Rail Crash">Great Heck Rail Crash</a> that cost the insurers over £22 million in compensation for the fatalities and damage to property caused by the actions of the insured driver of a motor vehicle that caused the disaster.</div>
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The minimum level of insurance cover commonly available, and which satisfies the requirement of the Act, is called <i>third party only insurance</i>. The level of cover provided by <i>Third party only insurance</i> is basic, but does exceed the requirements of the act. This insurance covers any liability to third parties, but does not cover any other risks.</div>
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More commonly purchased is <i>third party, fire and theft</i>. This covers all third party liabilities and also covers the vehicle owner against the destruction of the vehicle by fire (whether malicious or due to a vehicle fault) and theft of the vehicle itself. It may or may not cover vandalism. This kind of insurance and the two preceding types do not cover damage to the vehicle caused by the driver or other hazards.</div>
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<i><a href="http://en.wikipedia.org/wiki/Comprehensive_Cover" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Comprehensive Cover">Comprehensive insurance</a></i> covers all of the above and damage to the vehicle caused by the driver themselves, as well as vandalism and other risks. This is usually the most expensive type of insurance. For valuable cars, many insurers only offer comprehensive insurance.</div>
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Vehicles that are exempt from the requirement to be covered under the Act include those owned by certain councils and local authorities, national park authorities, education authorities, police authorities, fire authorities, health service bodies and security services.</div>
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The insurance certificate or cover note issued by the insurance company constitutes legal evidence that the vehicle specified on the document is insured. The law says that an authorised person, such as the police, may require a driver to produce an insurance certificate for inspection. If the driver cannot show the document immediately on request, and proof of insurance cannot be found by other means such as the Police National Computer, drivers are no longer issued a HORT/1. This was an order with seven days, as of midnight of the date of issue, to take a valid insurance certificate (and usually other driving documents as well) to a police station of the driver's choice. Failure to produce an insurance certificate is an offence. The HORT/1 was commonly known – even by the issuing authorities when dealing with the public – as a "Producer".</div>
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Insurance is more expensive in <a href="http://en.wikipedia.org/wiki/Northern_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Ireland">Northern Ireland</a> than in other parts of the UK.<sup class="noprint Inline-Template" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Vagueness" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Vagueness"><span title="You can help — (October 2008)">vague</span></a></i>]</sup><sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2008)">citation needed</span></a></i>]</sup>. In 2010 the cost of car insurance rose by an average of 33%.<sup class="reference" id="cite_ref-14" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[14]</a></sup></div>
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All motorists in the UK are required to prominently display a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Tax_disc" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Tax disc">vehicle excise licence</a> (tax disc) on their vehicle when it is kept or driven on public roads. This helps to ensure that most people have adequate insurance on their vehicles because an insurance certificate must be produced when a disc is purchased, although the insurance must merely be valid at the time of purchase and not necessarily for the life of the tax disc.<sup class="reference" id="cite_ref-15" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[15]</a></sup></div>
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The <a href="http://en.wikipedia.org/wiki/Motor_Insurers%27_Bureau" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Insurers' Bureau">Motor Insurers' Bureau</a> (MIB) compensates the victims of road accidents caused by uninsured and untraced motorists. It also operates a number of Motor Insurance Databases, which contain details of every insured vehicle in the country and acts as a means to share information between <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_Companies&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance Companies (page does not exist)">Insurance Companies</a>.</div>
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On 1 March 2011 the European Court of Justice in Luxembourg ruled that gender could no longer be used by insurers to set car insurance premiums. The new ruling will come into action from December 2012.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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In June 2011 a new law known as Continuous Insurance Enforcement came into force in the UK meaning that a vehicle must have a valid insurance policy if it has a tax disc, whether or not it is kept on public roads and whether or not it is driven.<sup class="reference" id="cite_ref-16" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[16]</a></sup> If the car is to be "laid up" for whatever reason, the tax disc must be surrendered and a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/SORN" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="SORN">SORN</a> declaration completed to say that it is off the public roads.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Investigation into repair costs & fraudulent claims">edit</a>]</span><span class="mw-headline" id="Investigation_into_repair_costs_.26_fraudulent_claims">Investigation into repair costs & fraudulent claims</span></h4>
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In September 2012 it was announced that the Competition Commission had launched an investigation into the UK system for credit repairs and credit hire of an alternative vehicle by a 3rd party following a non-fault accident. It was announced that insurers of vehicles that had caused a valid claim were unable to control the costs that were applied to the claim by means of repairs, storage, vehicle hire, referral fees and personal injury claims. Many accident management companies will take over the running of a non fault claim and arrange everything for the 3rd party. The subsequent cost of some of the items submitted for consideration has been a cause for concern over recent years and this has caused an increase in the premium costs. Also, the recent craze of "Cash for crash" has substantially raised the cost of policies. This is where two parties arrange a collision between their vehicles and one driver making excessive claims for damage and non existent injuries to themselves and the passengers that they had arranged to be "in the vehicle" at the time of the collision. Another recent development has seen crashes being caused delibarately by a driver "slamming" on their brakes so that the driver behind impacts them, this is usually carried out at roundabout junctions, when the following driver is looking to the right for oncoming traffic and does not notice that the vehicle in front has suddenly stopped for no reason.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United States">edit</a>]</span><span class="mw-headline" id="United_States">United States</span></h3>
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Main article: <a href="http://en.wikipedia.org/wiki/Vehicle_insurance_in_the_United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle insurance in the United States">Vehicle insurance in the United States</a></div>
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The regulations for vehicle insurance differ with each of the 50 US states and other territories (<i>see separate main article</i>).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Coverage levels">edit</a>]</span><span class="mw-headline" id="Coverage_levels">Coverage levels</span></h2>
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Vehicle insurance can cover some or all of the following items:</div>
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<li style="margin-bottom: 0.1em;">The insured party (medical payments)</li>
<li style="margin-bottom: 0.1em;">The insured vehicle (physical damage)</li>
<li style="margin-bottom: 0.1em;">Third parties (car and people, property damage and bodily injury)</li>
<li style="margin-bottom: 0.1em;">Third party, fire and theft</li>
<li style="margin-bottom: 0.1em;">In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)</li>
<li style="margin-bottom: 0.1em;">The cost to rent a vehicle if yours is damaged.</li>
<li style="margin-bottom: 0.1em;">The cost to tow your vehicle to a repair facility.</li>
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Different policies specify the circumstances under which each item is covered. For example, a vehicle can be insured against theft, fire damage, or accident damage independently.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Excess">edit</a>]</span><span class="mw-headline" id="Excess">Excess</span></h2>
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An excess payment, also known as a <a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy. Normally this payment is made directly to the accident repair "garage" (the term "garage" refers to an establishment where vehicles are serviced and repaired) when the owner collects the car. If one's car is declared to be a "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Write_off" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Write off">write off</a>" (or "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Totaled" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Totaled">totaled</a>"), then the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to the owner.</div>
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If the accident was the other driver's fault, and this fault is accepted by the third party's insurer, then the vehicle owner may be able to reclaim the excess payment from the other person's insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Compulsory excess">edit</a>]</span><span class="mw-headline" id="Compulsory_excess">Compulsory excess</span></h3>
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A compulsory excess is the minimum excess payment the insurer will accept on the insurance policy. Minimum excesses vary according to the personal details, driving record and the insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Voluntary excess">edit</a>]</span><span class="mw-headline" id="Voluntary_excess">Voluntary excess</span></h3>
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To reduce the insurance premium, the insured party may offer to pay a higher excess (deductible) than the compulsory excess demanded by the insurance company. The voluntary excess is the extra amount, over and above the compulsory excess, that is agreed to be paid in the event of a claim on the policy. As a bigger excess reduces the financial risk carried by the insurer, the insurer is able to offer a significantly lower premium.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Basis of premium charges">edit</a>]</span><span class="mw-headline" id="Basis_of_premium_charges">Basis of premium charges</span></h2>
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Main article: <a href="http://en.wikipedia.org/wiki/Auto_insurance_risk_selection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Auto insurance risk selection">auto insurance risk selection</a></div>
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Depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company, in accordance with a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages.</div>
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When the premium is not mandated by the government, it is usually derived from the calculations of an <a href="http://en.wikipedia.org/wiki/Actuary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Actuary">actuary</a>, based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Insurance_claim" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance claim">claims</a>.<sup class="reference" id="cite_ref-17" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[17]</a></sup> Those factors can include the car characteristics, the coverage selected (<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, limit, covered perils), the profile of the driver (<a href="http://en.wikipedia.org/wiki/Ageing" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Ageing">age</a>, <a href="http://en.wikipedia.org/wiki/Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Gender">gender</a>, driving history) and the usage of the car (commute to work or not, predicted annual distance driven).<sup class="reference" id="cite_ref-18" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[18]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Gender">edit</a>]</span><span class="mw-headline" id="Gender">Gender</span></h3>
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On 1 March 2011, the <a href="http://en.wikipedia.org/wiki/European_Court_of_Justice" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="European Court of Justice">European Court of Justice</a> controversially decided insurance companies who used gender as a risk factor when calculating insurance premiums were breaching EU equality laws.<sup class="reference" id="cite_ref-T409_19-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup> The Court ruled that car-insurance companies were discriminating against men.<sup class="reference" id="cite_ref-T409_19-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Age">edit</a>]</span><span class="mw-headline" id="Age">Age</span></h3>
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Teenage drivers who have no driving record will have higher car insurance premiums. However, young drivers are often offered discounts if they undertake further driver training on recognized courses, such as the <a href="http://en.wikipedia.org/wiki/Pass_Plus" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pass Plus">Pass Plus</a> scheme in the UK. In the US many insurers offer a good-grade discount to students with a good academic record and resident-student discounts to those who live away from home. Generally insurance premiums tend to become lower at the age of 25. Some insurance companies offer "stand alone" car insurance policies specifically for teenagers with lower premiums. By placing restrictions on teenagers' driving (forbidding driving after dark, or giving rides to other teens, for example), these companies effectively reduce their risk.<sup class="reference" id="cite_ref-20" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[20]</a></sup></div>
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Senior drivers are often eligible for retirement discounts, reflecting the lower average miles driven by this age group. However, rates may increase for senior drivers after age 65, due to increased risk associated with much older drivers. Typically, the increased risk for drivers over 65 years of age is associated with slower reflexes, reaction times, and being more injury-prone.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: U.S. driving history">edit</a>]</span><span class="mw-headline" id="U.S._driving_history">U.S. driving history</span></h3>
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In most U.S. states, moving violations, including running red lights and speeding, assess points on a driver's driving record. Since more points indicate an increased risk of future violations, insurance companies periodically review drivers' records, and may raise premiums accordingly. Laws vary from state to state, but most insurers allow one moving violation every three to five years before increasing premiums. Accidents affect insurance premiums similarly. Depending on the severity of the accident and the number of points assessed, rates can increase by as much as twenty to thirty percent.<sup class="reference" id="cite_ref-21" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[21]</a></sup> Any motoring convictions should be disclosed to insurers, as the driver is assessed by risk from prior experiences while driving on the road.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Marital status">edit</a>]</span><span class="mw-headline" id="Marital_status">Marital status</span></h3>
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Statistics show that married drivers average fewer accidents than the rest of the population so policy owners who are married often receive lower premiums than single persons.<sup class="reference" id="cite_ref-MillerStafford2009_22-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-MillerStafford2009-22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[22]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Vehicle classification">edit</a>]</span><span class="mw-headline" id="Vehicle_classification">Vehicle classification</span></h3>
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Two of the most important factors that go into determining the underwriting risk on motorized vehicles are: performance capability and retail cost. The most commonly available providers of auto insurance have underwriting restrictions against vehicles that are either designed to be capable of higher speeds and performance levels, or vehicles that retail above a certain dollar amount. Vehicles that are commonly considered luxury automobiles usually carry more expensive physical damage premiums because they are more expensive to replace. Vehicles that can be classified as high performance autos will carry higher premiums generally because there is greater opportunity for risky driving behavior. Motorcycle insurance may carry lower property-damage premiums because the risk of damage to other vehicles is minimal, yet have higher liability or personal-injury premiums, because motorcycle riders face different physical risks while on the road. Risk classification on automobiles also takes into account the statistical analysis of reported theft, accidents, and mechanical malfunction on every given year, make, and model of auto.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Distance">edit</a>]</span><span class="mw-headline" id="Distance">Distance</span></h3>
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Some car insurance plans do not differentiate in regard to how much the car is used. There are however low-mileage discounts offered by some insurance providers. Other methods of differentiation would include: over-road distance between the ordinary residence of a subject and their ordinary, daily destinations.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Reasonable distance estimation">edit</a>]</span><span class="mw-headline" id="Reasonable_distance_estimation">Reasonable distance estimation</span></h4>
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Another important factor in determining car-insurance premiums involves the annual mileage put on the vehicle, and for what reason. Driving to and from work every day at a specified distance, especially in urban areas where common traffic routes are known, presents different risks than how a retiree who does not work any longer may use their vehicle. Common practice has been that this information was provided solely by the insured person, but some insurance providers have started to collect regular <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> readings to verify the risk.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Odometer-based systems">edit</a>]</span><span class="mw-headline" id="Odometer-based_systems">Odometer-based systems</span></h4>
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Cents Per Mile Now<sup class="reference" id="cite_ref-23" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[23]</a></sup> (1986) advocates classified odometer-mile rates, a type of <a href="http://en.wikipedia.org/wiki/Usage-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage-based insurance">usage-based insurance</a>. After the company's risk factors have been applied, and the customer has accepted the per-mile rate offered, then customers buy prepaid miles of insurance protection as needed, like buying gallons of gasoline (litres of petrol). Insurance automatically ends when the <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> limit (recorded on the car's insurance ID card) is reached, unless more distance is bought. Customers keep track of miles on their own odometer to know when to buy more. The company does no after-the-fact billing of the customer, and the customer doesn't have to estimate a "future annual mileage" figure for the company to obtain a discount. In the event of a traffic stop, an officer could easily verify that the insurance is current, by comparing the figure on the insurance card to that on the odometer.</div>
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Critics point out the possibility of cheating the system by <a href="http://en.wikipedia.org/wiki/Odometer_fraud" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer fraud">odometer tampering</a>. Although the newer electronic odometers are difficult to roll back, they can still be defeated by disconnecting the odometer wires and reconnecting them later. However, as the Cents Per Mile Now website points out:</div>
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As a practical matter, resetting odometers requires equipment plus expertise that makes stealing insurance risky and uneconomical. For example, to steal 20,000 miles [32,200 km] of continuous protection while paying for only the 2000 in the 35000 to 37000 range on the odometer, the resetting would have to be done at least nine times, to keep the odometer reading within the narrow 2,000-mile [3,200 km] covered range. There are also powerful legal deterrents to this way of stealing insurance protection. Odometers have always served as the measuring device for resale value, rental and leasing charges, warranty limits, mechanical breakdown insurance, and cents-per-mile tax deductions or reimbursements for business or government travel. Odometer tampering, detected during claim processing, voids the insurance and, under decades-old state and federal law, is punishable by heavy fines and jail.</div>
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Under the cents-per-mile system, rewards for driving less are delivered automatically, without the need for administratively cumbersome and costly GPS technology. Uniform per-mile exposure measurement for the first time provides the basis for statistically valid rate classes. Insurer premium income automatically keeps pace with increases or decreases in driving activity, cutting back on resulting insurer demand for rate increases and preventing today's windfalls to insurers, when decreased driving activity lowers costs but not premiums.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: GPS-based system">edit</a>]</span><span class="mw-headline" id="GPS-based_system">GPS-based system</span></h4>
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In 1998, the <a href="http://en.wikipedia.org/wiki/Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Progressive Corporation">Progressive Insurance</a> company started a pilot program in Texas, in which drivers received a discount for installing a <a href="http://en.wikipedia.org/wiki/Global_Positioning_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Global Positioning System">GPS</a>-based device that tracked their driving behavior and reported the results via cellular phone to the company.<sup class="reference" id="cite_ref-24" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[24]</a></sup> Policyholders were reportedly more upset about having to pay for the expensive device than they were over privacy concerns.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2012)">citation needed</span></a></i>]</sup> The program was discontinued in 2000. In following years many policies (including Progressive) have been trialed and successfully introduced worldwide into what are referred to as <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a>. Such 'telematic' policies typically are based on <a class="new" href="http://en.wikipedia.org/w/index.php?title=Black-box_insurance&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Black-box insurance (page does not exist)">black-box insurance</a> technology, such devices derive from stolen vehicle and fleet tracking but are used for insurance purposes. Since 2010 GPS-based and <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a> systems have become more mainstream in the auto insurance market not just aimed at specialised auto-fleet markets or high value vehicles (with an emphasis on stolen vehicle recovery). Modern GPS-based systems are branded as 'PAYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_As_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay As You Drive">Pay As You Drive</a> insurance policies, 'PHYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_How_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay How You Drive">Pay How You Drive</a> or since 2012 <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Smartphone_auto_insurance_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Smartphone auto insurance policies">Smartphone auto insurance policies</a> which utilise smartphones as a GPS sensor.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: OBDII-based system">edit</a>]</span><span class="mw-headline" id="OBDII-based_system">OBDII-based system</span></h4>
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<a class="mw-redirect" href="http://en.wikipedia.org/wiki/The_Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="The Progressive Corporation">The Progressive Corporation</a> launched Snapshot to give drivers a customized insurance rate based on recording how, how much, and when their car is driven.<sup class="reference" id="cite_ref-SS_25-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Snapshot is currently available in 38 US states.<sup class="reference" id="cite_ref-SS_25-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Driving data is transmitted to the company using an on-board telematic device. The device connects to a car's OnBoard Diagnostic (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/OBD-II" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="OBD-II">OBD-II</a>) port (all petrol automobiles in the USA built after 1996 have an OBD-II.) and transmits speed, time of day and number of miles the car is driven. There is no GPS in the Snapshot device, so no location information is collected. Cars that are driven less often, in less-risky ways, and at less-risky times of day, can receive large discounts. Progressive has received patents on its methods and systems of implementing usage-based insurance and has licensed these methods and systems to other companies.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=31" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Credit ratings">edit</a>]</span><span class="mw-headline" id="Credit_ratings">Credit ratings</span></h3>
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Insurance companies have started using credit ratings of their policyholders to determine risk. Drivers with good credit scores get lower insurance premiums, as it is believed that they are more financially stable, more responsible and have the financial means to better maintain their vehicles. Those with lower credit scores can have their premiums raised or insurance canceled outright.<sup class="reference" id="cite_ref-26" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[26]</a></sup> It has been shown that good drivers with spotty credit records could be charged higher premiums than bad drivers with good credit records.<sup class="reference" id="cite_ref-27" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[27]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=32" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Behavior-based insurance">edit</a>]</span><span class="mw-headline" id="Behavior-based_insurance">Behavior-based insurance</span></h3>
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The use of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Non-intrusive_load_monitoring" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Non-intrusive load monitoring">non-intrusive load monitoring</a> to detect <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Drunk_driving" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Drunk driving">drunk driving</a> and other risky behaviors has been proposed.<sup class="reference" id="cite_ref-28" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[28]</a></sup> A US patent application combining this technology with a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Usage_based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage based insurance">usage based insurance</a>product to create a new type of behavior based auto insurance product is currently open for public comment on <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Peer_to_patent" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Peer to patent">peer to patent</a>.<sup class="reference" id="cite_ref-29" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[29]</a></sup> <i>See <a href="http://en.wikipedia.org/wiki/Behavior-based_safety" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Behavior-based safety">Behavior-based safety</a></i>. Behaviour based Insurance focusing upon driving is often called <a href="http://en.wikipedia.org/wiki/Telematics" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics">Telematics</a> or <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematics2.0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics2.0">Telematics2.0</a> in some cases monitoring focus upon behavioural analysis such as <a class="new" href="http://en.wikipedia.org/w/index.php?title=Smooth_driving&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Smooth driving (page does not exist)">Smooth driving</a>.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=33" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Repair insurance">edit</a>]</span><span class="mw-headline" id="Repair_insurance">Repair insurance</span></h2>
<table class="metadata plainlinks ambox ambox-content ambox-globalize" style="background-color: #fbfbfb; background-position: initial initial; background-repeat: initial initial; border-color: rgb(170, 170, 170) rgb(170, 170, 170) rgb(170, 170, 170) rgb(242, 133, 0); border-style: solid; border-width: 1px 1px 1px 10px; font-size: 13px; margin: 0px 112px 0px 112.390625px;"><tbody>
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<img alt="Globe icon." height="40" src="http://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" style="border: none; vertical-align: middle;" width="48" /></div>
</td><td class="mbox-text" style="border: none; padding: 0.25em 0.5em; width: 811.21875px;"><span class="mbox-text-span">The examples and perspective in this section <b>deal primarily with the United States and do not represent a <a href="http://en.wikipedia.org/wiki/Wikipedia:WikiProject_Countering_systemic_bias" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>. <span class="hide-when-compact">Please <a class="external text" href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit" style="background-image: url(data:image/png; background-position: 0% 0%; background-repeat: no-repeat no-repeat; color: #663366; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 13px; padding-top: 0px !important; text-decoration: none;">improve this article</a> and discuss the issue on the <a href="http://en.wikipedia.org/wiki/Talk:Vehicle_insurance" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Talk:Vehicle insurance">talk page</a>.</span> <small><i>(September 2012)</i></small></span></td></tr>
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<b>Auto repair insurance</b> is an extension of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Car_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Car insurance">car insurance</a> available in all 50 of the United States that covers the natural wear and tear on a vehicle, independent of damages related to a car accident.</div>
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Some drivers opt to buy the insurance as a means of protection against costly breakdowns unrelated to an accident. In contrast to more standard and basic coverages such as comprehensive and collision insurance, auto repair insurance does not cover a vehicle when it is damaged in a collision, during a natural disaster or at the hands of vandals.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup></div>
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For many it is an attractive option for protection after the warranties on their cars expire.</div>
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Providers can also offer sub-divisions of auto repair insurance. There is standard repair insurance which covers the wear and tear of vehicles, and naturally occurring breakdowns. Some companies will only offer mechanical breakdown insurance, which only covers repairs necessary when breakable parts need to be fixed or replaced. These parts include transmissions, oil pumps, <a href="http://en.wikipedia.org/wiki/Piston" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Piston">pistons</a>, timing gears, flywheels, <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Valves" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Valves">valves</a>, axles and joints.<sup class="reference" id="cite_ref-30" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[30]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=34" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: See also">edit</a>]</span><span class="mw-headline" id="See_also">See also</span></h2>
<table style="font-size: 13px;"><tbody>
<tr><td valign="top"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Alcohol_exclusion_laws" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Alcohol exclusion laws">Alcohol exclusion laws</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Assigned_risk" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Assigned risk">Assigned risk</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Breakdown_(vehicle)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Breakdown (vehicle)">Breakdown</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Extended_coverage" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Extended coverage">Extended coverage</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Family_purpose_doctrine" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Family purpose doctrine">Family purpose doctrine</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Health_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Health insurance">Health insurance</a></li>
</ul>
</td><td> </td><td valign="top"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/International_Motor_Insurance_Card_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Motor Insurance Card System">International Motor Insurance Card System</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Insurance_Information_and_Enforcement_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance Information and Enforcement System">Insurance Information and Enforcement System</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/No_fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No fault insurance">No fault insurance</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Omnibus_clause" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Omnibus clause">Omnibus clause</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Vehicle_safety_inspection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle safety inspection">Vehicle safety inspection</a></li>
</ul>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=35" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: References">edit</a>]</span><span class="mw-headline" id="References">References</span></h2>
<div class="reflist references-column-width" style="-webkit-column-width: 35em; font-size: 12px; list-style-type: decimal; margin-bottom: 0.5em;">
<ol class="references" style="line-height: 1.5em; list-style-image: none; list-style-type: inherit; margin: 0.3em 0px 0.5em 3.2em; padding: 0px;">
<li id="cite_note-1" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Wenzel T. (1995). <a class="external text" href="http://www.osti.gov/energycitations/product.biblio.jsp?query_id=1&page=0&osti_id=125357" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Analysis of national pay-as-you-drive insurance systems and other variable driving charges</a>. Lawrence Berkeley Lab., CA.</span></li>
<li id="cite_note-2" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.maa.nsw.gov.au/default.aspx?MenuID=88#97" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Green Slips"</a>. New South Wales Government, Motor Accidents Authority.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Green+Slips&rft.genre=book&rft_id=http%3A%2F%2Fwww.maa.nsw.gov.au%2Fdefault.aspx%3FMenuID%3D88%2397&rft.pub=New+South+Wales+Government%2C+Motor+Accidents+Authority&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-ibc-3" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-ibc_3-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.ibc.ca/en/Car_Insurance/SK/index.asp" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance Bureau of Canada</a>. Ibc.ca (1 January 2003).</span></li>
<li id="cite_note-4" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.finanzierungsratgeber24.de/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Informationen zur Kfz Versicherung in Deutschland</a>. Finanzierungsratgeber24.de (21 September 2012).</span></li>
<li id="cite_note-5" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.abk.hu/Tudastar/KGFB_rendelet/en.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Third-party vehicle insurance in Hungary</a><sup class="noprint Inline-Template" style="line-height: 1em;"><span style="white-space: nowrap;" title=" since September 2012">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Link_rot" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Link rot">dead link</a></i>]</span></sup></span></li>
<li id="cite_note-6" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.jasaraharja.co.id/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">PT. Jasa Raharja | Asuransi Kecelakaan Lalulintas Jalan dan Penumpang Umum</a>. Jasaraharja.co.id.</span></li>
<li id="cite_note-7" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://193.178.1.79/1933/en/act/pub/0011/sec0061.html#sec61" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act, 1933, Section 61</a>. 193.178.1.79.</span></li>
<li id="cite_note-8" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://193.178.1.79/1961/en/act/pub/0024/print.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act, 1961</a>. 193.178.1.79 (29 July 1961).</span></li>
<li id="cite_note-9" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/making-a-claim/am-i-covered/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Am I covered?"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Am+I+covered%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fmaking-a-claim%2Fam-i-covered%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-10" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/about-acc/overview-of-acc/how-were-funded/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How we're funded"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+we%27re+funded&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fabout-acc%2Foverview-of-acc%2Fhow-were-funded%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-11" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;"><a class="external text" href="http://www.realitatea.net/politele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Poliţele RCA se scumpesc în 2009 cu 10 până la 30%"</a>. <i>Realitatea</i> (in Romanian). 6 March 2009<span class="reference-accessdate">. Retrieved 11 June 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Poli%C5%A3ele+RCA+se+scumpesc+%C3%AEn+2009+cu+10+p%C3%A2n%C4%83+la+30%25&rft.date=6+March+2009&rft.genre=article&rft_id=http%3A%2F%2Fwww.realitatea.net%2Fpolitele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html&rft.jtitle=Realitatea&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-12" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.dme.gov.za/energy/petrol_structure.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Petrol Structure"</a>. Department of Minerals and Energy, South Africa<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Petrol+Structure&rft.genre=book&rft_id=http%3A%2F%2Fwww.dme.gov.za%2Fenergy%2Fpetrol_structure.htm&rft.pub=Department+of+Minerals+and+Energy%2C+South+Africa&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-13" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.info.gov.za/gazette/acts/1996/a56-96.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"South African Road Accident Fund Act of 1996"</a>. South African Government<span class="reference-accessdate">. Retrieved 4 December 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=South+African+Road+Accident+Fund+Act+of+1996&rft.genre=book&rft_id=http%3A%2F%2Fwww.info.gov.za%2Fgazette%2Facts%2F1996%2Fa56-96.htm&rft.pub=South+African+Government&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-14" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.bbc.co.uk/news/business-12581915" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance pricing to change soon, warns AA</a>, <i><a href="http://en.wikipedia.org/wiki/BBC_News" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="BBC News">BBC News</a></i> 28 February 2011. Retrieved 1 March 2011</span></li>
<li id="cite_note-15" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.taxdisc.direct.gov.uk/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">DVLA Vehicle Licensing Online</a>. Taxdisc.direct.gov.uk.</span></li>
<li id="cite_note-16" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.direct.gov.uk/en/Motoring/OwningAVehicle/Motorinsurance/DG_186696?CID=Continuous_Insurance&PLA=DM&CRE=Furl" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Stay insured: penalties for vehicles without motor insurance : Directgov – Motoring</a>. Direct.gov.uk.</span></li>
<li id="cite_note-17" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;">McClenahan, Charles. <a class="external text" href="http://www.casact.org/admissions/syllabus/ch3.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">"Ratemaking"</a> (PDF). Casualty Actuarial Society<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Charles&rft.aulast=McClenahan&rft.au=McClenahan%2C+Charles&rft.btitle=Ratemaking&rft.genre=book&rft_id=http%3A%2F%2Fwww.casact.org%2Fadmissions%2Fsyllabus%2Fch3.pdf&rft.pub=Casualty+Actuarial+Society&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-18" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.iii.org/individuals/auto/b/whatdetermines/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"What determines the price of my policy?"</a>. Insurance Information Institute<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=What+determines+the+price+of+my+policy%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fauto%2Fb%2Fwhatdetermines%2F&rft.pub=Insurance+Information+Institute&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-T409-19" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text">Cendrowicz, Leo (2 March 2011) <a class="external text" href="http://www.time.com/time/business/article/0,8599,2056409,00.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">E.U. Court to Insurers: Stop Making Men Pay More</a>, Time.com.</span></li>
<li id="cite_note-20" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://autoinsurancetips.com/auto-insurance-teens" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Auto Insurance for Teens"</a>. <i>autoinsurancetips.com</i>. 21 April 2009.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Auto+Insurance+for+Teens&rft.date=21+April+2009&rft.genre=article&rft_id=http%3A%2F%2Fautoinsurancetips.com%2Fauto-insurance-teens&rft.jtitle=autoinsurancetips.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-21" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.autoinsurancetips.com/how-points-your-drivers-license-affect-your-auto-insurance-premiums" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How Points on Your Driver's Licence Affect Your Auto Insurance Premiums"</a>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+Points+on+Your+Driver%27s+Licence+Affect+Your+Auto+Insurance+Premiums&rft.genre=book&rft_id=http%3A%2F%2Fwww.autoinsurancetips.com%2Fhow-points-your-drivers-license-affect-your-auto-insurance-premiums&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-MillerStafford2009-22" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-MillerStafford2009_22-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation book" style="word-wrap: break-word;">Miller, Roger LeRoy and Stafford, Alan D. (16 January 2009). <a class="external text" href="http://books.google.com/books?id=KmsptGIoV2oC&pg=PA475" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;"><i>Economic Education for Consumers</i></a>. Cengage Learning. p. 475. <a href="http://en.wikipedia.org/wiki/International_Standard_Book_Number" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Standard Book Number">ISBN</a> <a href="http://en.wikipedia.org/wiki/Special:BookSources/978-0-538-44888-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Special:BookSources/978-0-538-44888-8">978-0-538-44888-8</a><span class="reference-accessdate">. Retrieved 6 September 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aulast=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.au=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.btitle=Economic+Education+for+Consumers&rft.date=16+January+2009&rft.genre=book&rft_id=http%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DKmsptGIoV2oC%26pg%3DPA475&rft.isbn=978-0-538-44888-8&rft.pages=475&rft.pub=Cengage+Learning&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-23" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.centspermilenow.org/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Cents Per Mile Now"</a>. <i>centspermilenow.org</i><span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Cents+Per+Mile+Now&rft.genre=article&rft_id=http%3A%2F%2Fwww.centspermilenow.org%2F&rft.jtitle=centspermilenow.org&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-24" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://info.insure.com/auto/progressive700.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Progressive's "pay-as-you-drive" auto insurance poised for wide rollout"</a>. insure.com<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Progressive%27s+%22pay-as-you-drive%22+auto+insurance+poised+for+wide+rollout&rft.genre=book&rft_id=http%3A%2F%2Finfo.insure.com%2Fauto%2Fprogressive700.html&rft.pub=insure.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-SS-25" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text"><a class="external text" href="http://www.progressive.com/snapshot/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Snapshot, Snapshot Discount: Pay As You Drive® (PAYD) – Progressive</a>. Progressive.com.</span></li>
<li id="cite_note-26" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre24.shtm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Need Credit or Insurance? Your credit scores helps determine how much you will pay"</a>. ftc.gov<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Need+Credit+or+Insurance%3F+Your+credit+scores+helps+determine+how+much+you+will+pay&rft.genre=book&rft_id=http%3A%2F%2Fwww.ftc.gov%2Fbcp%2Fedu%2Fpubs%2Fconsumer%2Fcredit%2Fcre24.shtm&rft.pub=ftc.gov&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-27" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://web.archive.org/web/20091105010654/http://articles.moneycentral.msn.com/Insurance/InsureYourCar/bad-credit-worse-than-bad-driving.aspx" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Bad Credit worse than bad driving"</a>. Wall Street Journal. 11 February 2009<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Bad+Credit+worse+than+bad+driving&rft.date=11+February+2009&rft.genre=book&rft_id=http%3A%2F%2Fweb.archive.org%2Fweb%2F20091105010654%2Fhttp%3A%2F%2Farticles.moneycentral.msn.com%2FInsurance%2FInsureYourCar%2Fbad-credit-worse-than-bad-driving.aspx&rft.pub=Wall+Street+Journal&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-28" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Davis, Harold (21 May 2009) <a class="external text" href="http://www.marketsandpatents.com/pdfs/stamford_advocate_sober_teen.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">'Black Box' idea travels to cars</a>.</span></li>
<li id="cite_note-29" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.peertopatent.org/patent/20090063201/activity" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">US patent application 20090063201 "SoberTeen driving insurance"</a>. Peertopatent.org (20 May 2009).</span></li>
<li id="cite_note-30" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;">Lerner, Michele (20 September 2011). <a class="external text" href="http://www.foxbusiness.com/personal-finance/2011/09/20/auto-repair-insurance-pledges-to-pay-your-breakdown-bills/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Auto repair insurance pledges to pay your breakdown bills"</a>. Fox Business<span class="reference-accessdate">. Retrieved 27 November 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Michele&rft.aulast=Lerner&rft.au=Lerner%2C+Michele&rft.btitle=Auto+repair+insurance+pledges+to+pay+your+breakdown+bills&rft.date=20+September+2011&rft.genre=book&rft_id=http%3A%2F%2Fwww.foxbusiness.com%2Fpersonal-finance%2F2011%2F09%2F20%2Fauto-repair-insurance-pledges-to-pay-your-breakdown-bills%2F&rft.pub=Fox+Business&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
</ol>
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<li style="margin-bottom: 0.1em;"><a class="external text" href="http://www.howstuffworks.com/car-insurance.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">How Car Insurance Works</a> at <a href="http://en.wikipedia.org/wiki/HowStuffWorks" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HowStuffWorks">HowStuffWorks</a></li>
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<a href="http://en.wikipedia.org/wiki/Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;" title="Insurance">Insurance</a></div>
</th></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Types of insurance</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
</div>
<table cellspacing="0" class="nowraplinks navbox-subgroup" style="border-spacing: 0px; font-size: 11px; width: 957px;"><tbody>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
<a href="http://en.wikipedia.org/wiki/Health_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Health insurance">Health</a></div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Accidental_death_and_dismemberment_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Accidental death and dismemberment insurance">Accidental death and dismemberment insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Dental_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Dental insurance">Dental insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Disability insurance">Disability insurance</a> (<a href="http://en.wikipedia.org/wiki/Total_permanent_disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Total permanent disability insurance">Total permanent disability insurance</a>)</li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Income_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Income protection insurance">Income protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Long-term_care_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Long-term care insurance">Long-term care insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/National_health_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="National health insurance">National health insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Payment_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Payment protection insurance">Payment protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Vision_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Vision insurance">Vision insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
<a href="http://en.wikipedia.org/wiki/Life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Life insurance">Life</a></div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage life insurance">Mortgage life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Permanent_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Permanent life insurance">Permanent life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Term_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Term life insurance">Term life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Universal life insurance">Universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Variable_universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Variable universal life insurance">Variable universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Whole_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Whole life insurance">Whole life insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Business</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Bond_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Bond insurance">Bond insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Directors and officers liability insurance">Directors and officers liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Fidelity_bond" style="background-image: none; color: #0b0080; text-decoration: none;" title="Fidelity bond">Fidelity bond</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Professional_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Professional liability insurance">Professional liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Protection_and_indemnity_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Protection and indemnity insurance">Protection and indemnity insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Trade_credit_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Trade credit insurance">Trade credit insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Umbrella_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Umbrella insurance">Umbrella insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Residential</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Contents_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Contents insurance">Contents insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Earthquake insurance">Earthquake insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Flood insurance">Flood insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Home_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Home insurance">Home insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Landlords_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Landlords insurance">Landlords insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Lenders_mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Lenders mortgage insurance">Lenders mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage insurance">Mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Property_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Property insurance">Property insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Renters_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Renters insurance">Renters insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Title_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Title insurance">Title insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Transport/<br />Communication</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Aviation_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Aviation insurance">Aviation insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Computer_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Computer insurance">Computer insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Marine_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Marine insurance">Marine insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Satellite_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Satellite insurance">Satellite insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Travel_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Travel insurance">Travel insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><strong class="selflink">Vehicle insurance</strong></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Other</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Reinsurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Reinsurance">Reinsurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Casualty_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Casualty insurance">Casualty insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crime_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crime insurance">Crime insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crop_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crop insurance">Crop insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Group_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Group insurance">Group insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Liability insurance">Liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="No-fault insurance">No-fault insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Pet_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Pet insurance">Pet insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Terrorism_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Terrorism insurance">Terrorism insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Wage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Wage insurance">Wage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Weather_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Weather insurance">Weather insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Workers%27_compensation" style="background-image: none; color: #0b0080; text-decoration: none;" title="Workers' compensation">Workers' compensation</a></li>
</ul>
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</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Insurance policy and law</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_policy" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance policy">Insurance policy</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_law" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance law">Insurance law</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Health_Insurance_Portability_and_Accountability_Act" style="background-image: none; color: #0b0080; text-decoration: none;" title="Health Insurance Portability and Accountability Act">Health Insurance Portability and Accountability Act</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Other</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/History_of_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="History of insurance">History of insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Unitised_assurance_fund" style="background-image: none; color: #0b0080; text-decoration: none;" title="Unitised assurance fund">Unitised assurance fund</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><td class="navbox-abovebelow" colspan="2" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: center;"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Category:Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Category:Insurance">Category</a></b></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Outline_of_finance#Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Outline of finance">List of topics</a></b></li>
</ul>
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</tbody></table>
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PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-17915722525112837622013-05-06T00:34:00.003-07:002013-05-06T00:34:26.313-07:00Vehicle Insurance<br />
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From Wikipedia, the free encyclopedia</div>
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<a class="image" href="http://en.wikipedia.org/wiki/File:Car_crash_1.jpg" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><img alt="" class="thumbimage" height="165" src="http://upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/220px-Car_crash_1.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/330px-Car_crash_1.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/440px-Car_crash_1.jpg 2x" style="background-color: white; border: 1px solid rgb(204, 204, 204); vertical-align: middle;" width="220" /></a><div class="thumbcaption" style="border: none; font-size: 11px; line-height: 1.4em; padding: 3px !important; text-align: left;">
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Vehicle insurance, in exchange for a premium, will pay valid claims arising out of traffic collisions such as the above.</div>
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<b>Vehicle insurance</b> (also known as <b>auto insurance</b>, <b><a class="mw-redirect" href="http://en.wikipedia.org/wiki/GAP_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GAP insurance">GAP insurance</a></b>, <b>car insurance</b>, or <b>motor insurance</b>) is <a href="http://en.wikipedia.org/wiki/Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance">insurance</a> purchased for <a href="http://en.wikipedia.org/wiki/Automobile" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Automobile">cars</a>, <a href="http://en.wikipedia.org/wiki/Truck" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Truck">trucks</a>,<a href="http://en.wikipedia.org/wiki/Motorcycle" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motorcycle">motorcycles</a>, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from <a href="http://en.wikipedia.org/wiki/Traffic_collision" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Traffic collision">traffic collisions</a> and against <a href="http://en.wikipedia.org/wiki/Legal_liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Legal liability">liability</a> that could also arise therefrom. The specific terms of vehicle insurance vary with legal <a href="http://en.wikipedia.org/wiki/Regulation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Regulation">regulations</a> in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.</div>
<table class="toc" id="toc" style="background-color: #f9f9f9; border: 1px solid rgb(170, 170, 170); font-size: 12px; padding: 5px;"><tbody>
<tr><td><div id="toctitle" style="direction: ltr; text-align: center;">
<h2 style="background-image: none; border: none; display: inline; font-size: 12px; margin: 0px 0px 0.6em; overflow: hidden; padding: 0px;">
Contents</h2>
<span class="toctoggle" style="-webkit-user-select: none; font-size: 11px;"> [<a class="internal" href="http://en.wikipedia.org/wiki/Vehicle_insurance#" id="togglelink" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">hide</a>] </span></div>
<ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0.3em 0px; padding: 0px;">
<li class="toclevel-1 tocsection-1" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Public_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1</span> <span class="toctext">Public policies</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-2" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.1</span> <span class="toctext">Australia</span></a></li>
<li class="toclevel-2 tocsection-3" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Canada" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.2</span> <span class="toctext">Canada</span></a></li>
<li class="toclevel-2 tocsection-4" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Germany" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.3</span> <span class="toctext">Germany</span></a></li>
<li class="toclevel-2 tocsection-5" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Hungary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.4</span> <span class="toctext">Hungary</span></a></li>
<li class="toclevel-2 tocsection-6" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Indonesia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.5</span> <span class="toctext">Indonesia</span></a></li>
<li class="toclevel-2 tocsection-7" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#India" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.6</span> <span class="toctext">India</span></a></li>
<li class="toclevel-2 tocsection-8" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.7</span> <span class="toctext">Ireland</span></a></li>
<li class="toclevel-2 tocsection-9" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#New_Zealand" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.8</span> <span class="toctext">New Zealand</span></a></li>
<li class="toclevel-2 tocsection-10" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Norway" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.9</span> <span class="toctext">Norway</span></a></li>
<li class="toclevel-2 tocsection-11" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Romania" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.10</span> <span class="toctext">Romania</span></a></li>
<li class="toclevel-2 tocsection-12" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#South_Africa" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.11</span> <span class="toctext">South Africa</span></a></li>
<li class="toclevel-2 tocsection-13" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_Kingdom" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12</span> <span class="toctext">United Kingdom</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-14" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Investigation_into_repair_costs_.26_fraudulent_claims" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12.1</span> <span class="toctext">Investigation into repair costs & fraudulent claims</span></a></li>
</ul>
</li>
<li class="toclevel-2 tocsection-15" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.13</span> <span class="toctext">United States</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-16" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Coverage_levels" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">2</span> <span class="toctext">Coverage levels</span></a></li>
<li class="toclevel-1 tocsection-17" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3</span> <span class="toctext">Excess</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-18" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Compulsory_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.1</span> <span class="toctext">Compulsory excess</span></a></li>
<li class="toclevel-2 tocsection-19" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Voluntary_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.2</span> <span class="toctext">Voluntary excess</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-20" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Basis_of_premium_charges" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4</span> <span class="toctext">Basis of premium charges</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-21" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.1</span> <span class="toctext">Gender</span></a></li>
<li class="toclevel-2 tocsection-22" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Age" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.2</span> <span class="toctext">Age</span></a></li>
<li class="toclevel-2 tocsection-23" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#U.S._driving_history" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.3</span> <span class="toctext">U.S. driving history</span></a></li>
<li class="toclevel-2 tocsection-24" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Marital_status" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.4</span> <span class="toctext">Marital status</span></a></li>
<li class="toclevel-2 tocsection-25" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Vehicle_classification" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.5</span> <span class="toctext">Vehicle classification</span></a></li>
<li class="toclevel-2 tocsection-26" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Distance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6</span> <span class="toctext">Distance</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-27" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Reasonable_distance_estimation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.1</span> <span class="toctext">Reasonable distance estimation</span></a></li>
<li class="toclevel-3 tocsection-28" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Odometer-based_systems" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.2</span> <span class="toctext">Odometer-based systems</span></a></li>
<li class="toclevel-3 tocsection-29" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#GPS-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.3</span> <span class="toctext">GPS-based system</span></a></li>
<li class="toclevel-3 tocsection-30" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#OBDII-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.4</span> <span class="toctext">OBDII-based system</span></a></li>
</ul>
</li>
<li class="toclevel-2 tocsection-31" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Credit_ratings" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.7</span> <span class="toctext">Credit ratings</span></a></li>
<li class="toclevel-2 tocsection-32" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Behavior-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.8</span> <span class="toctext">Behavior-based insurance</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-33" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Repair_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">5</span> <span class="toctext">Repair insurance</span></a></li>
<li class="toclevel-1 tocsection-34" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#See_also" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">6</span> <span class="toctext">See also</span></a></li>
<li class="toclevel-1 tocsection-35" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#References" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">7</span> <span class="toctext">References</span></a></li>
<li class="toclevel-1 tocsection-36" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#External_links" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">8</span> <span class="toctext">External links</span></a></li>
</ul>
</td></tr>
</tbody></table>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Public policies">edit</a>]</span><span class="mw-headline" id="Public_policies">Public policies</span></h2>
<div style="line-height: 1.5em; margin-bottom: 0.5em; margin-top: 0.4em;">
In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly.</div>
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Several jurisdictions have experimented with a "pay-as-you-drive" insurance plan which is paid through a gasoline tax (petrol tax). This would address issues of uninsured motorists and also charge based on the miles (kilometres) driven, which could theoretically increase the efficiency of the insurance, through streamlined collection.<sup class="reference" id="cite_ref-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[1]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Australia">edit</a>]</span><span class="mw-headline" id="Australia">Australia</span></h3>
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In <a href="http://en.wikipedia.org/wiki/New_South_Wales" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="New South Wales">New South Wales</a> and the <a href="http://en.wikipedia.org/wiki/Northern_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Territory">Northern Territory</a> Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. A 'Green Slip,'<sup class="reference" id="cite_ref-2" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[2]</a></sup> another name by which CTP Insurance is commonly known due to the colour of the pages which the form is printed on, must be obtained through one of the five licenced insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA now also supplies CTP but is only for over 50's who are no longer working full-time.</div>
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A similar scheme applies in the <a href="http://en.wikipedia.org/wiki/Australian_Capital_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Australian Capital Territory">Australian Capital Territory</a>. Currently, Insurance Australia Limited (NRMA) is the only CTP Insurer in the ACT.</div>
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In <a href="http://en.wikipedia.org/wiki/Victoria_(Australia)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Victoria (Australia)">Victoria</a>, Third Party Personal insurance from the <a href="http://en.wikipedia.org/wiki/Transport_Accident_Commission" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Transport Accident Commission">Transport Accident Commission</a> is similarly included, through a levy, in the vehicle registration fee.</div>
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In <a href="http://en.wikipedia.org/wiki/Queensland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Queensland">Queensland</a>, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight band.</div>
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In <a href="http://en.wikipedia.org/wiki/South_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="South Australia">South Australia</a>, Third Party Personal insurance from the <a class="new" href="http://en.wikipedia.org/w/index.php?title=Motor_Accident_Commission&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Motor Accident Commission (page does not exist)">Motor Accident Commission</a> is included in the <a href="http://en.wikipedia.org/wiki/Driver%27s_license" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Driver's license">licence</a> registration fee for people over 17. A similar scheme applies in <a href="http://en.wikipedia.org/wiki/Western_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Western Australia">Western Australia</a>.</div>
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These state based third party insurance schemes usually cover only personal injury liability. Comprehensive and Third Party Property insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.</div>
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CTP only covers personal injury liability.</div>
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Third Party Property Insurance covers damage to someone else's property or vehicle, but not your own vehicle.</div>
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Third Party Property Insurance with Fire and Theft is the same as above, but will cover your vehicle in the event of fire or theft normally up to maximum of $5,000.</div>
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Comprehensive Insurance covers damage to someone else's property or vehicle as well as your own.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Canada">edit</a>]</span><span class="mw-headline" id="Canada">Canada</span></h3>
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Several Canadian provinces (<a href="http://en.wikipedia.org/wiki/British_Columbia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="British Columbia">British Columbia</a>, <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, <a href="http://en.wikipedia.org/wiki/Manitoba" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Manitoba">Manitoba</a> and <a href="http://en.wikipedia.org/wiki/Quebec" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Quebec">Quebec</a>) provide a <a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">public auto insurance</a> system while in the rest of the country insurance is provided privately. Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for <a href="http://en.wikipedia.org/wiki/Newfoundland_and_Labrador" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Newfoundland and Labrador">Newfoundland and Labrador</a>. All provinces in Canada have some form of <a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No-fault insurance">no-fault insurance</a> available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international assailant must provide themselves with Canadian Insurance. The IIB is reinstated every time the international assailant enters the country. Damage to the driver's own vehicle is optional – one notable exception to this is in <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, where <a href="http://en.wikipedia.org/wiki/Saskatchewan_Government_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan Government Insurance">SGI</a> provides collision coverage (less than a $1000<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, such as a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Collision_damage_waiver" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Collision damage waiver">collision damage waiver</a>) as part of its basic insurance policy. In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.<sup class="reference" id="cite_ref-ibc_3-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-ibc-3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[3]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Germany">edit</a>]</span><span class="mw-headline" id="Germany">Germany</span></h3>
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Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany. Besides, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurances are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.<sup class="reference" id="cite_ref-4" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[4]</a></sup></div>
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The minimum coverage defined by Germany law for car liability insurance / third party personal insurance is:<br />7.5 million euro for bodily injury (damage to people), 1 million euro for property damage and 50,000 euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. Indeed Insurance Companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of 8 to 15 million euro for EACH bodily injured person).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Hungary">edit</a>]</span><span class="mw-headline" id="Hungary">Hungary</span></h3>
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Third-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 500M (about €1.8M) per accident without deductible. The coverage is extended to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 1,250M (about €4.5M) in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border.<sup class="reference" id="cite_ref-5" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[5]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Indonesia">edit</a>]</span><span class="mw-headline" id="Indonesia">Indonesia</span></h3>
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Third-party vehicle Insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. Third Party vehicle insurance is included through a levy in the vehicle registration fee which is paid to government institution that known as "Samsat". Third-Party Vehicle Insurance is regulated under Act No. 34 Year 1964 Re: Road Traffic Accident Fund and merely covers Bodily injury, and managed by a SOE named PT. Jasa Raharja (Persero).<sup class="reference" id="cite_ref-6" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[6]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: India">edit</a>]</span><span class="mw-headline" id="India">India</span></h3>
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<a class="image" href="http://en.wikipedia.org/wiki/File:Vehicle_Insurance_Certificate_in_India.pdf" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><img alt="" class="thumbimage" height="311" src="http://upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Vehicle_Insurance_Certificate_in_India.pdf/page1-220px-Vehicle_Insurance_Certificate_in_India.pdf.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Vehicle_Insurance_Certificate_in_India.pdf/page1-330px-Vehicle_Insurance_Certificate_in_India.pdf.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Vehicle_Insurance_Certificate_in_India.pdf/page1-440px-Vehicle_Insurance_Certificate_in_India.pdf.jpg 2x" style="background-color: white; border: 1px solid rgb(204, 204, 204); vertical-align: middle;" width="220" /></a><div class="thumbcaption" style="border: none; font-size: 11px; line-height: 1.4em; padding: 3px !important; text-align: left;">
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A Sample Vehicle Insurance Certificate in India</div>
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Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides <i>accident cover for individual owners</i> of the vehicle while driving and also for <i>passengers and third party legal liability</i>. There are certain general insurance companies who also offer online insurance service for the vehicle.</div>
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Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India, like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.</div>
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There are different types of Auto Insurance in India :</div>
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Private Car Insurance – In the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.</div>
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Two Wheeler Insurance – The Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.</div>
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Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:</div>
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;">Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.</li>
<li style="margin-bottom: 0.1em;">Liability for third party injury/death, third party property and liability to paid driver</li>
<li style="margin-bottom: 0.1em;">On payment of appropriate additional premium, loss/damage to electrical/electronic accessories</li>
</ul>
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The auto insurance does not include:</div>
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<li style="margin-bottom: 0.1em;">Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage</li>
<li style="margin-bottom: 0.1em;">When vehicle is used outside the geographical area</li>
<li style="margin-bottom: 0.1em;">War or nuclear perils and drunken driving</li>
</ul>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Ireland">edit</a>]</span><span class="mw-headline" id="Ireland">Ireland</span></h3>
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The Road Traffic Act, 1933 requires all drivers of mechanically propelled vehicles in public places to have at least third-party insurance, or to have obtained exemption – generally by depositing a (large) sum of money with the High Court as a guarantee against claims. In 1933 this figure was set at <a href="http://en.wikipedia.org/wiki/IEP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="IEP">£</a>15,000.<sup class="reference" id="cite_ref-7" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[7]</a></sup> The Road Traffic Act, 1961<sup class="reference" id="cite_ref-8" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[8]</a></sup> (which is currently in force) repealed the 1933 act but replaced these sections with functionally identical sections.</div>
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From 1968, those making deposits require the consent of the Minister for Transport to do so, with the sum specified by the Minister.</div>
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Those not exempted from obtaining insurance must obtain a certificate of insurance from their insurance provider, and display a portion of this (an <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_disc&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance disc (page does not exist)">insurance disc</a>) on their vehicles windscreen (if fitted). The certificate in full must be presented to a police station within ten days if requested by an officer. Proof of having insurance or an exemption must also be provided to pay for the <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Motor_Tax_in_the_Republic_of_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Tax in the Republic of Ireland">motor tax</a>.</div>
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Those injured or suffering property damage/loss due to uninsured drivers can claim against the Motor Insurance Bureau of Ireland's uninsured drivers fund, as can those injured (but not those suffering damage or loss) from hit and run offences.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: New Zealand">edit</a>]</span><span class="mw-headline" id="New_Zealand">New Zealand</span></h3>
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Within New Zealand, the <a href="http://en.wikipedia.org/wiki/Accident_Compensation_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Accident Compensation Corporation">Accident Compensation Corporation</a> (ACC) provides nationwide no-fault personal injury insurance.<sup class="reference" id="cite_ref-9" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[9]</a></sup> Injuries involving motor vehicles operating on public roads are covered by the Motor Vehicle Account, for which premiums are collected through levies on petrol and through vehicle licensing fees.<sup class="reference" id="cite_ref-10" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[10]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Norway">edit</a>]</span><span class="mw-headline" id="Norway">Norway</span></h3>
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In Norway, the vehicle owner must provide the minimum of liability insurance for his vehicle(s) – of any kind. Otherwise, the vehicle is illegal to use. If a person drives a vehicle belonging to someone else, and has an accident, the insurance will cover for damage done.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Romania">edit</a>]</span><span class="mw-headline" id="Romania">Romania</span></h3>
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Romanian law mandates <a href="http://en.wikipedia.org/wiki/Civil_Auto_Liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Civil Auto Liability">Răspundere Auto Civilă</a>, a motor-vehicle liability insurance for all vehicle owners to cover damages to third parties.<sup class="reference" id="cite_ref-11" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[11]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: South Africa">edit</a>]</span><span class="mw-headline" id="South_Africa">South Africa</span></h3>
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South Africa allocates a percentage of the money from gasoline into the <a href="http://en.wikipedia.org/wiki/Road_Accident_Fund" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Road Accident Fund">Road Accident Fund</a>, which goes towards compensating third parties in accidents.<sup class="reference" id="cite_ref-12" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[12]</a></sup><sup class="reference" id="cite_ref-13" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[13]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United Kingdom">edit</a>]</span><span class="mw-headline" id="United_Kingdom">United Kingdom</span></h3>
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<a class="image" href="http://en.wikipedia.org/wiki/File:Uninsured_cars_seized_by_police_in_Liverpool.JPG" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><img alt="" class="thumbimage" height="165" src="http://upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/220px-Uninsured_cars_seized_by_police_in_Liverpool.JPG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/330px-Uninsured_cars_seized_by_police_in_Liverpool.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/440px-Uninsured_cars_seized_by_police_in_Liverpool.JPG 2x" style="background-color: white; border: 1px solid rgb(204, 204, 204); vertical-align: middle;" width="220" /></a><div class="thumbcaption" style="border: none; font-size: 11px; line-height: 1.4em; padding: 3px !important; text-align: left;">
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Uninsured cars seized by the <a href="http://en.wikipedia.org/wiki/Merseyside_Police" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Merseyside Police">Merseyside Police</a> on display outside the force's headquarters in 2006</div>
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In 1930, the UK government introduced a law that required every person who used a vehicle on the road to have at least third party personal injury insurance. Today, UK law is defined by the <a class="external text" href="http://www.legislation.gov.uk/ukpga/1988/52/contents" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act 1988</a>, which was last modified in 1991. The Act requires that motorists either be insured, have a security, or have made a specified deposit (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/GBP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GBP">£</a>500,000 as of 1991) with the Accountant General of the Supreme Court, against their liability for injuries to others (including passengers) and for damage to other persons' property, resulting from use of a vehicle on a public road or in other public places.</div>
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It is an offense to use a car, or allow others to use it, without the insurance that satisfies the act whilst on the public highway (or public place Section 143(1)(a) RTA 1988 as amended 1991); however, no such legislation applies on private land.</div>
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<i><a href="http://en.wikipedia.org/wiki/RTA_Insurer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="RTA Insurer">Road Traffic Act Only Insurance</a></i> differs from <i>Third Party Only Insurance</i> (detailed below) and is not often sold. It provides the very minimum cover to satisfy the requirements of the Act. For example <i>Road Traffic Act Only Insurance</i> has a limit of £1,000,000 for damage to third party property – third party only insurance typically has a greater limit for third party property damage. As a result of costly claims, insurance companies can now no longer place a limit on the amount that they are liable for in the event of a claim by 3rd parties against a legitimate policy. This can be explained in part by the<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Great_Heck_Rail_Crash" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Great Heck Rail Crash">Great Heck Rail Crash</a> that cost the insurers over £22 million in compensation for the fatalities and damage to property caused by the actions of the insured driver of a motor vehicle that caused the disaster.</div>
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The minimum level of insurance cover commonly available, and which satisfies the requirement of the Act, is called <i>third party only insurance</i>. The level of cover provided by <i>Third party only insurance</i> is basic, but does exceed the requirements of the act. This insurance covers any liability to third parties, but does not cover any other risks.</div>
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More commonly purchased is <i>third party, fire and theft</i>. This covers all third party liabilities and also covers the vehicle owner against the destruction of the vehicle by fire (whether malicious or due to a vehicle fault) and theft of the vehicle itself. It may or may not cover vandalism. This kind of insurance and the two preceding types do not cover damage to the vehicle caused by the driver or other hazards.</div>
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<i><a href="http://en.wikipedia.org/wiki/Comprehensive_Cover" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Comprehensive Cover">Comprehensive insurance</a></i> covers all of the above and damage to the vehicle caused by the driver themselves, as well as vandalism and other risks. This is usually the most expensive type of insurance. For valuable cars, many insurers only offer comprehensive insurance.</div>
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Vehicles that are exempt from the requirement to be covered under the Act include those owned by certain councils and local authorities, national park authorities, education authorities, police authorities, fire authorities, health service bodies and security services.</div>
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The insurance certificate or cover note issued by the insurance company constitutes legal evidence that the vehicle specified on the document is insured. The law says that an authorised person, such as the police, may require a driver to produce an insurance certificate for inspection. If the driver cannot show the document immediately on request, and proof of insurance cannot be found by other means such as the Police National Computer, drivers are no longer issued a HORT/1. This was an order with seven days, as of midnight of the date of issue, to take a valid insurance certificate (and usually other driving documents as well) to a police station of the driver's choice. Failure to produce an insurance certificate is an offence. The HORT/1 was commonly known – even by the issuing authorities when dealing with the public – as a "Producer".</div>
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Insurance is more expensive in <a href="http://en.wikipedia.org/wiki/Northern_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Ireland">Northern Ireland</a> than in other parts of the UK.<sup class="noprint Inline-Template" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Vagueness" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Vagueness"><span title="You can help — (October 2008)">vague</span></a></i>]</sup><sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2008)">citation needed</span></a></i>]</sup>. In 2010 the cost of car insurance rose by an average of 33%.<sup class="reference" id="cite_ref-14" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[14]</a></sup></div>
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All motorists in the UK are required to prominently display a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Tax_disc" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Tax disc">vehicle excise licence</a> (tax disc) on their vehicle when it is kept or driven on public roads. This helps to ensure that most people have adequate insurance on their vehicles because an insurance certificate must be produced when a disc is purchased, although the insurance must merely be valid at the time of purchase and not necessarily for the life of the tax disc.<sup class="reference" id="cite_ref-15" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[15]</a></sup></div>
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The <a href="http://en.wikipedia.org/wiki/Motor_Insurers%27_Bureau" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Insurers' Bureau">Motor Insurers' Bureau</a> (MIB) compensates the victims of road accidents caused by uninsured and untraced motorists. It also operates a number of Motor Insurance Databases, which contain details of every insured vehicle in the country and acts as a means to share information between <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_Companies&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance Companies (page does not exist)">Insurance Companies</a>.</div>
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On 1 March 2011 the European Court of Justice in Luxembourg ruled that gender could no longer be used by insurers to set car insurance premiums. The new ruling will come into action from December 2012.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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In June 2011 a new law known as Continuous Insurance Enforcement came into force in the UK meaning that a vehicle must have a valid insurance policy if it has a tax disc, whether or not it is kept on public roads and whether or not it is driven.<sup class="reference" id="cite_ref-16" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[16]</a></sup> If the car is to be "laid up" for whatever reason, the tax disc must be surrendered and a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/SORN" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="SORN">SORN</a> declaration completed to say that it is off the public roads.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Investigation into repair costs & fraudulent claims">edit</a>]</span><span class="mw-headline" id="Investigation_into_repair_costs_.26_fraudulent_claims">Investigation into repair costs & fraudulent claims</span></h4>
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In September 2012 it was announced that the Competition Commission had launched an investigation into the UK system for credit repairs and credit hire of an alternative vehicle by a 3rd party following a non-fault accident. It was announced that insurers of vehicles that had caused a valid claim were unable to control the costs that were applied to the claim by means of repairs, storage, vehicle hire, referral fees and personal injury claims. Many accident management companies will take over the running of a non fault claim and arrange everything for the 3rd party. The subsequent cost of some of the items submitted for consideration has been a cause for concern over recent years and this has caused an increase in the premium costs. Also, the recent craze of "Cash for crash" has substantially raised the cost of policies. This is where two parties arrange a collision between their vehicles and one driver making excessive claims for damage and non existent injuries to themselves and the passengers that they had arranged to be "in the vehicle" at the time of the collision. Another recent development has seen crashes being caused delibarately by a driver "slamming" on their brakes so that the driver behind impacts them, this is usually carried out at roundabout junctions, when the following driver is looking to the right for oncoming traffic and does not notice that the vehicle in front has suddenly stopped for no reason.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United States">edit</a>]</span><span class="mw-headline" id="United_States">United States</span></h3>
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Main article: <a href="http://en.wikipedia.org/wiki/Vehicle_insurance_in_the_United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle insurance in the United States">Vehicle insurance in the United States</a></div>
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The regulations for vehicle insurance differ with each of the 50 US states and other territories (<i>see separate main article</i>).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Coverage levels">edit</a>]</span><span class="mw-headline" id="Coverage_levels">Coverage levels</span></h2>
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Vehicle insurance can cover some or all of the following items:</div>
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<li style="margin-bottom: 0.1em;">The insured party (medical payments)</li>
<li style="margin-bottom: 0.1em;">The insured vehicle (physical damage)</li>
<li style="margin-bottom: 0.1em;">Third parties (car and people, property damage and bodily injury)</li>
<li style="margin-bottom: 0.1em;">Third party, fire and theft</li>
<li style="margin-bottom: 0.1em;">In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)</li>
<li style="margin-bottom: 0.1em;">The cost to rent a vehicle if yours is damaged.</li>
<li style="margin-bottom: 0.1em;">The cost to tow your vehicle to a repair facility.</li>
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Different policies specify the circumstances under which each item is covered. For example, a vehicle can be insured against theft, fire damage, or accident damage independently.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Excess">edit</a>]</span><span class="mw-headline" id="Excess">Excess</span></h2>
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An excess payment, also known as a <a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy. Normally this payment is made directly to the accident repair "garage" (the term "garage" refers to an establishment where vehicles are serviced and repaired) when the owner collects the car. If one's car is declared to be a "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Write_off" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Write off">write off</a>" (or "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Totaled" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Totaled">totaled</a>"), then the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to the owner.</div>
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If the accident was the other driver's fault, and this fault is accepted by the third party's insurer, then the vehicle owner may be able to reclaim the excess payment from the other person's insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Compulsory excess">edit</a>]</span><span class="mw-headline" id="Compulsory_excess">Compulsory excess</span></h3>
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A compulsory excess is the minimum excess payment the insurer will accept on the insurance policy. Minimum excesses vary according to the personal details, driving record and the insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Voluntary excess">edit</a>]</span><span class="mw-headline" id="Voluntary_excess">Voluntary excess</span></h3>
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To reduce the insurance premium, the insured party may offer to pay a higher excess (deductible) than the compulsory excess demanded by the insurance company. The voluntary excess is the extra amount, over and above the compulsory excess, that is agreed to be paid in the event of a claim on the policy. As a bigger excess reduces the financial risk carried by the insurer, the insurer is able to offer a significantly lower premium.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Basis of premium charges">edit</a>]</span><span class="mw-headline" id="Basis_of_premium_charges">Basis of premium charges</span></h2>
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Main article: <a href="http://en.wikipedia.org/wiki/Auto_insurance_risk_selection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Auto insurance risk selection">auto insurance risk selection</a></div>
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Depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company, in accordance with a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages.</div>
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When the premium is not mandated by the government, it is usually derived from the calculations of an <a href="http://en.wikipedia.org/wiki/Actuary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Actuary">actuary</a>, based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Insurance_claim" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance claim">claims</a>.<sup class="reference" id="cite_ref-17" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[17]</a></sup> Those factors can include the car characteristics, the coverage selected (<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, limit, covered perils), the profile of the driver (<a href="http://en.wikipedia.org/wiki/Ageing" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Ageing">age</a>, <a href="http://en.wikipedia.org/wiki/Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Gender">gender</a>, driving history) and the usage of the car (commute to work or not, predicted annual distance driven).<sup class="reference" id="cite_ref-18" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[18]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Gender">edit</a>]</span><span class="mw-headline" id="Gender">Gender</span></h3>
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On 1 March 2011, the <a href="http://en.wikipedia.org/wiki/European_Court_of_Justice" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="European Court of Justice">European Court of Justice</a> controversially decided insurance companies who used gender as a risk factor when calculating insurance premiums were breaching EU equality laws.<sup class="reference" id="cite_ref-T409_19-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup> The Court ruled that car-insurance companies were discriminating against men.<sup class="reference" id="cite_ref-T409_19-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Age">edit</a>]</span><span class="mw-headline" id="Age">Age</span></h3>
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Teenage drivers who have no driving record will have higher car insurance premiums. However, young drivers are often offered discounts if they undertake further driver training on recognized courses, such as the <a href="http://en.wikipedia.org/wiki/Pass_Plus" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pass Plus">Pass Plus</a> scheme in the UK. In the US many insurers offer a good-grade discount to students with a good academic record and resident-student discounts to those who live away from home. Generally insurance premiums tend to become lower at the age of 25. Some insurance companies offer "stand alone" car insurance policies specifically for teenagers with lower premiums. By placing restrictions on teenagers' driving (forbidding driving after dark, or giving rides to other teens, for example), these companies effectively reduce their risk.<sup class="reference" id="cite_ref-20" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[20]</a></sup></div>
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Senior drivers are often eligible for retirement discounts, reflecting the lower average miles driven by this age group. However, rates may increase for senior drivers after age 65, due to increased risk associated with much older drivers. Typically, the increased risk for drivers over 65 years of age is associated with slower reflexes, reaction times, and being more injury-prone.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: U.S. driving history">edit</a>]</span><span class="mw-headline" id="U.S._driving_history">U.S. driving history</span></h3>
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In most U.S. states, moving violations, including running red lights and speeding, assess points on a driver's driving record. Since more points indicate an increased risk of future violations, insurance companies periodically review drivers' records, and may raise premiums accordingly. Laws vary from state to state, but most insurers allow one moving violation every three to five years before increasing premiums. Accidents affect insurance premiums similarly. Depending on the severity of the accident and the number of points assessed, rates can increase by as much as twenty to thirty percent.<sup class="reference" id="cite_ref-21" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[21]</a></sup> Any motoring convictions should be disclosed to insurers, as the driver is assessed by risk from prior experiences while driving on the road.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Marital status">edit</a>]</span><span class="mw-headline" id="Marital_status">Marital status</span></h3>
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Statistics show that married drivers average fewer accidents than the rest of the population so policy owners who are married often receive lower premiums than single persons.<sup class="reference" id="cite_ref-MillerStafford2009_22-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-MillerStafford2009-22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[22]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Vehicle classification">edit</a>]</span><span class="mw-headline" id="Vehicle_classification">Vehicle classification</span></h3>
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Two of the most important factors that go into determining the underwriting risk on motorized vehicles are: performance capability and retail cost. The most commonly available providers of auto insurance have underwriting restrictions against vehicles that are either designed to be capable of higher speeds and performance levels, or vehicles that retail above a certain dollar amount. Vehicles that are commonly considered luxury automobiles usually carry more expensive physical damage premiums because they are more expensive to replace. Vehicles that can be classified as high performance autos will carry higher premiums generally because there is greater opportunity for risky driving behavior. Motorcycle insurance may carry lower property-damage premiums because the risk of damage to other vehicles is minimal, yet have higher liability or personal-injury premiums, because motorcycle riders face different physical risks while on the road. Risk classification on automobiles also takes into account the statistical analysis of reported theft, accidents, and mechanical malfunction on every given year, make, and model of auto.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Distance">edit</a>]</span><span class="mw-headline" id="Distance">Distance</span></h3>
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Some car insurance plans do not differentiate in regard to how much the car is used. There are however low-mileage discounts offered by some insurance providers. Other methods of differentiation would include: over-road distance between the ordinary residence of a subject and their ordinary, daily destinations.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Reasonable distance estimation">edit</a>]</span><span class="mw-headline" id="Reasonable_distance_estimation">Reasonable distance estimation</span></h4>
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Another important factor in determining car-insurance premiums involves the annual mileage put on the vehicle, and for what reason. Driving to and from work every day at a specified distance, especially in urban areas where common traffic routes are known, presents different risks than how a retiree who does not work any longer may use their vehicle. Common practice has been that this information was provided solely by the insured person, but some insurance providers have started to collect regular <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> readings to verify the risk.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Odometer-based systems">edit</a>]</span><span class="mw-headline" id="Odometer-based_systems">Odometer-based systems</span></h4>
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Cents Per Mile Now<sup class="reference" id="cite_ref-23" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[23]</a></sup> (1986) advocates classified odometer-mile rates, a type of <a href="http://en.wikipedia.org/wiki/Usage-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage-based insurance">usage-based insurance</a>. After the company's risk factors have been applied, and the customer has accepted the per-mile rate offered, then customers buy prepaid miles of insurance protection as needed, like buying gallons of gasoline (litres of petrol). Insurance automatically ends when the <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> limit (recorded on the car's insurance ID card) is reached, unless more distance is bought. Customers keep track of miles on their own odometer to know when to buy more. The company does no after-the-fact billing of the customer, and the customer doesn't have to estimate a "future annual mileage" figure for the company to obtain a discount. In the event of a traffic stop, an officer could easily verify that the insurance is current, by comparing the figure on the insurance card to that on the odometer.</div>
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Critics point out the possibility of cheating the system by <a href="http://en.wikipedia.org/wiki/Odometer_fraud" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer fraud">odometer tampering</a>. Although the newer electronic odometers are difficult to roll back, they can still be defeated by disconnecting the odometer wires and reconnecting them later. However, as the Cents Per Mile Now website points out:</div>
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As a practical matter, resetting odometers requires equipment plus expertise that makes stealing insurance risky and uneconomical. For example, to steal 20,000 miles [32,200 km] of continuous protection while paying for only the 2000 in the 35000 to 37000 range on the odometer, the resetting would have to be done at least nine times, to keep the odometer reading within the narrow 2,000-mile [3,200 km] covered range. There are also powerful legal deterrents to this way of stealing insurance protection. Odometers have always served as the measuring device for resale value, rental and leasing charges, warranty limits, mechanical breakdown insurance, and cents-per-mile tax deductions or reimbursements for business or government travel. Odometer tampering, detected during claim processing, voids the insurance and, under decades-old state and federal law, is punishable by heavy fines and jail.</div>
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Under the cents-per-mile system, rewards for driving less are delivered automatically, without the need for administratively cumbersome and costly GPS technology. Uniform per-mile exposure measurement for the first time provides the basis for statistically valid rate classes. Insurer premium income automatically keeps pace with increases or decreases in driving activity, cutting back on resulting insurer demand for rate increases and preventing today's windfalls to insurers, when decreased driving activity lowers costs but not premiums.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: GPS-based system">edit</a>]</span><span class="mw-headline" id="GPS-based_system">GPS-based system</span></h4>
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In 1998, the <a href="http://en.wikipedia.org/wiki/Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Progressive Corporation">Progressive Insurance</a> company started a pilot program in Texas, in which drivers received a discount for installing a <a href="http://en.wikipedia.org/wiki/Global_Positioning_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Global Positioning System">GPS</a>-based device that tracked their driving behavior and reported the results via cellular phone to the company.<sup class="reference" id="cite_ref-24" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[24]</a></sup> Policyholders were reportedly more upset about having to pay for the expensive device than they were over privacy concerns.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2012)">citation needed</span></a></i>]</sup> The program was discontinued in 2000. In following years many policies (including Progressive) have been trialed and successfully introduced worldwide into what are referred to as <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a>. Such 'telematic' policies typically are based on <a class="new" href="http://en.wikipedia.org/w/index.php?title=Black-box_insurance&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Black-box insurance (page does not exist)">black-box insurance</a> technology, such devices derive from stolen vehicle and fleet tracking but are used for insurance purposes. Since 2010 GPS-based and <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a> systems have become more mainstream in the auto insurance market not just aimed at specialised auto-fleet markets or high value vehicles (with an emphasis on stolen vehicle recovery). Modern GPS-based systems are branded as 'PAYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_As_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay As You Drive">Pay As You Drive</a> insurance policies, 'PHYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_How_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay How You Drive">Pay How You Drive</a> or since 2012 <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Smartphone_auto_insurance_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Smartphone auto insurance policies">Smartphone auto insurance policies</a> which utilise smartphones as a GPS sensor.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: OBDII-based system">edit</a>]</span><span class="mw-headline" id="OBDII-based_system">OBDII-based system</span></h4>
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<a class="mw-redirect" href="http://en.wikipedia.org/wiki/The_Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="The Progressive Corporation">The Progressive Corporation</a> launched Snapshot to give drivers a customized insurance rate based on recording how, how much, and when their car is driven.<sup class="reference" id="cite_ref-SS_25-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Snapshot is currently available in 38 US states.<sup class="reference" id="cite_ref-SS_25-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Driving data is transmitted to the company using an on-board telematic device. The device connects to a car's OnBoard Diagnostic (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/OBD-II" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="OBD-II">OBD-II</a>) port (all petrol automobiles in the USA built after 1996 have an OBD-II.) and transmits speed, time of day and number of miles the car is driven. There is no GPS in the Snapshot device, so no location information is collected. Cars that are driven less often, in less-risky ways, and at less-risky times of day, can receive large discounts. Progressive has received patents on its methods and systems of implementing usage-based insurance and has licensed these methods and systems to other companies.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=31" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Credit ratings">edit</a>]</span><span class="mw-headline" id="Credit_ratings">Credit ratings</span></h3>
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Insurance companies have started using credit ratings of their policyholders to determine risk. Drivers with good credit scores get lower insurance premiums, as it is believed that they are more financially stable, more responsible and have the financial means to better maintain their vehicles. Those with lower credit scores can have their premiums raised or insurance canceled outright.<sup class="reference" id="cite_ref-26" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[26]</a></sup> It has been shown that good drivers with spotty credit records could be charged higher premiums than bad drivers with good credit records.<sup class="reference" id="cite_ref-27" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[27]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=32" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Behavior-based insurance">edit</a>]</span><span class="mw-headline" id="Behavior-based_insurance">Behavior-based insurance</span></h3>
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The use of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Non-intrusive_load_monitoring" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Non-intrusive load monitoring">non-intrusive load monitoring</a> to detect <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Drunk_driving" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Drunk driving">drunk driving</a> and other risky behaviors has been proposed.<sup class="reference" id="cite_ref-28" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[28]</a></sup> A US patent application combining this technology with a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Usage_based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage based insurance">usage based insurance</a>product to create a new type of behavior based auto insurance product is currently open for public comment on <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Peer_to_patent" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Peer to patent">peer to patent</a>.<sup class="reference" id="cite_ref-29" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[29]</a></sup> <i>See <a href="http://en.wikipedia.org/wiki/Behavior-based_safety" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Behavior-based safety">Behavior-based safety</a></i>. Behaviour based Insurance focusing upon driving is often called <a href="http://en.wikipedia.org/wiki/Telematics" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics">Telematics</a> or <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematics2.0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics2.0">Telematics2.0</a> in some cases monitoring focus upon behavioural analysis such as <a class="new" href="http://en.wikipedia.org/w/index.php?title=Smooth_driving&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Smooth driving (page does not exist)">Smooth driving</a>.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=33" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Repair insurance">edit</a>]</span><span class="mw-headline" id="Repair_insurance">Repair insurance</span></h2>
<table class="metadata plainlinks ambox ambox-content ambox-globalize" style="background-color: #fbfbfb; background-position: initial initial; background-repeat: initial initial; border-color: rgb(170, 170, 170) rgb(170, 170, 170) rgb(170, 170, 170) rgb(242, 133, 0); border-style: solid; border-width: 1px 1px 1px 10px; font-size: 13px; margin: 0px 112px 0px 112.390625px;"><tbody>
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<img alt="Globe icon." height="40" src="http://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" style="border: none; vertical-align: middle;" width="48" /></div>
</td><td class="mbox-text" style="border: none; padding: 0.25em 0.5em; width: 811.21875px;"><span class="mbox-text-span">The examples and perspective in this section <b>deal primarily with the United States and do not represent a <a href="http://en.wikipedia.org/wiki/Wikipedia:WikiProject_Countering_systemic_bias" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>. <span class="hide-when-compact">Please <a class="external text" href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit" style="background-image: url(data:image/png; background-position: 0% 0%; background-repeat: no-repeat no-repeat; color: #663366; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 13px; padding-top: 0px !important; text-decoration: none;">improve this article</a> and discuss the issue on the <a href="http://en.wikipedia.org/wiki/Talk:Vehicle_insurance" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Talk:Vehicle insurance">talk page</a>.</span> <small><i>(September 2012)</i></small></span></td></tr>
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<b>Auto repair insurance</b> is an extension of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Car_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Car insurance">car insurance</a> available in all 50 of the United States that covers the natural wear and tear on a vehicle, independent of damages related to a car accident.</div>
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Some drivers opt to buy the insurance as a means of protection against costly breakdowns unrelated to an accident. In contrast to more standard and basic coverages such as comprehensive and collision insurance, auto repair insurance does not cover a vehicle when it is damaged in a collision, during a natural disaster or at the hands of vandals.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup></div>
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For many it is an attractive option for protection after the warranties on their cars expire.</div>
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Providers can also offer sub-divisions of auto repair insurance. There is standard repair insurance which covers the wear and tear of vehicles, and naturally occurring breakdowns. Some companies will only offer mechanical breakdown insurance, which only covers repairs necessary when breakable parts need to be fixed or replaced. These parts include transmissions, oil pumps, <a href="http://en.wikipedia.org/wiki/Piston" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Piston">pistons</a>, timing gears, flywheels, <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Valves" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Valves">valves</a>, axles and joints.<sup class="reference" id="cite_ref-30" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[30]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=34" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: See also">edit</a>]</span><span class="mw-headline" id="See_also">See also</span></h2>
<table style="font-size: 13px;"><tbody>
<tr><td valign="top"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Alcohol_exclusion_laws" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Alcohol exclusion laws">Alcohol exclusion laws</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Assigned_risk" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Assigned risk">Assigned risk</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Breakdown_(vehicle)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Breakdown (vehicle)">Breakdown</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Extended_coverage" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Extended coverage">Extended coverage</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Family_purpose_doctrine" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Family purpose doctrine">Family purpose doctrine</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Health_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Health insurance">Health insurance</a></li>
</ul>
</td><td> </td><td valign="top"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/International_Motor_Insurance_Card_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Motor Insurance Card System">International Motor Insurance Card System</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Insurance_Information_and_Enforcement_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance Information and Enforcement System">Insurance Information and Enforcement System</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/No_fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No fault insurance">No fault insurance</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Omnibus_clause" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Omnibus clause">Omnibus clause</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Vehicle_safety_inspection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle safety inspection">Vehicle safety inspection</a></li>
</ul>
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</tbody></table>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=35" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: References">edit</a>]</span><span class="mw-headline" id="References">References</span></h2>
<div class="reflist references-column-width" style="-webkit-column-width: 35em; font-size: 12px; list-style-type: decimal; margin-bottom: 0.5em;">
<ol class="references" style="line-height: 1.5em; list-style-image: none; list-style-type: inherit; margin: 0.3em 0px 0.5em 3.2em; padding: 0px;">
<li id="cite_note-1" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Wenzel T. (1995). <a class="external text" href="http://www.osti.gov/energycitations/product.biblio.jsp?query_id=1&page=0&osti_id=125357" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Analysis of national pay-as-you-drive insurance systems and other variable driving charges</a>. Lawrence Berkeley Lab., CA.</span></li>
<li id="cite_note-2" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.maa.nsw.gov.au/default.aspx?MenuID=88#97" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Green Slips"</a>. New South Wales Government, Motor Accidents Authority.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Green+Slips&rft.genre=book&rft_id=http%3A%2F%2Fwww.maa.nsw.gov.au%2Fdefault.aspx%3FMenuID%3D88%2397&rft.pub=New+South+Wales+Government%2C+Motor+Accidents+Authority&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-ibc-3" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-ibc_3-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.ibc.ca/en/Car_Insurance/SK/index.asp" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance Bureau of Canada</a>. Ibc.ca (1 January 2003).</span></li>
<li id="cite_note-4" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.finanzierungsratgeber24.de/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Informationen zur Kfz Versicherung in Deutschland</a>. Finanzierungsratgeber24.de (21 September 2012).</span></li>
<li id="cite_note-5" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.abk.hu/Tudastar/KGFB_rendelet/en.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Third-party vehicle insurance in Hungary</a><sup class="noprint Inline-Template" style="line-height: 1em;"><span style="white-space: nowrap;" title=" since September 2012">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Link_rot" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Link rot">dead link</a></i>]</span></sup></span></li>
<li id="cite_note-6" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.jasaraharja.co.id/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">PT. Jasa Raharja | Asuransi Kecelakaan Lalulintas Jalan dan Penumpang Umum</a>. Jasaraharja.co.id.</span></li>
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<li id="cite_note-8" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://193.178.1.79/1961/en/act/pub/0024/print.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act, 1961</a>. 193.178.1.79 (29 July 1961).</span></li>
<li id="cite_note-9" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/making-a-claim/am-i-covered/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Am I covered?"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Am+I+covered%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fmaking-a-claim%2Fam-i-covered%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-10" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/about-acc/overview-of-acc/how-were-funded/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How we're funded"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+we%27re+funded&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fabout-acc%2Foverview-of-acc%2Fhow-were-funded%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-11" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;"><a class="external text" href="http://www.realitatea.net/politele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Poliţele RCA se scumpesc în 2009 cu 10 până la 30%"</a>. <i>Realitatea</i> (in Romanian). 6 March 2009<span class="reference-accessdate">. Retrieved 11 June 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Poli%C5%A3ele+RCA+se+scumpesc+%C3%AEn+2009+cu+10+p%C3%A2n%C4%83+la+30%25&rft.date=6+March+2009&rft.genre=article&rft_id=http%3A%2F%2Fwww.realitatea.net%2Fpolitele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html&rft.jtitle=Realitatea&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-12" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.dme.gov.za/energy/petrol_structure.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Petrol Structure"</a>. Department of Minerals and Energy, South Africa<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Petrol+Structure&rft.genre=book&rft_id=http%3A%2F%2Fwww.dme.gov.za%2Fenergy%2Fpetrol_structure.htm&rft.pub=Department+of+Minerals+and+Energy%2C+South+Africa&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-13" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.info.gov.za/gazette/acts/1996/a56-96.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"South African Road Accident Fund Act of 1996"</a>. South African Government<span class="reference-accessdate">. Retrieved 4 December 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=South+African+Road+Accident+Fund+Act+of+1996&rft.genre=book&rft_id=http%3A%2F%2Fwww.info.gov.za%2Fgazette%2Facts%2F1996%2Fa56-96.htm&rft.pub=South+African+Government&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-14" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.bbc.co.uk/news/business-12581915" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance pricing to change soon, warns AA</a>, <i><a href="http://en.wikipedia.org/wiki/BBC_News" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="BBC News">BBC News</a></i> 28 February 2011. Retrieved 1 March 2011</span></li>
<li id="cite_note-15" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.taxdisc.direct.gov.uk/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">DVLA Vehicle Licensing Online</a>. Taxdisc.direct.gov.uk.</span></li>
<li id="cite_note-16" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.direct.gov.uk/en/Motoring/OwningAVehicle/Motorinsurance/DG_186696?CID=Continuous_Insurance&PLA=DM&CRE=Furl" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Stay insured: penalties for vehicles without motor insurance : Directgov – Motoring</a>. Direct.gov.uk.</span></li>
<li id="cite_note-17" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;">McClenahan, Charles. <a class="external text" href="http://www.casact.org/admissions/syllabus/ch3.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">"Ratemaking"</a> (PDF). Casualty Actuarial Society<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Charles&rft.aulast=McClenahan&rft.au=McClenahan%2C+Charles&rft.btitle=Ratemaking&rft.genre=book&rft_id=http%3A%2F%2Fwww.casact.org%2Fadmissions%2Fsyllabus%2Fch3.pdf&rft.pub=Casualty+Actuarial+Society&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-18" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.iii.org/individuals/auto/b/whatdetermines/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"What determines the price of my policy?"</a>. Insurance Information Institute<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=What+determines+the+price+of+my+policy%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fauto%2Fb%2Fwhatdetermines%2F&rft.pub=Insurance+Information+Institute&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-T409-19" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text">Cendrowicz, Leo (2 March 2011) <a class="external text" href="http://www.time.com/time/business/article/0,8599,2056409,00.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">E.U. Court to Insurers: Stop Making Men Pay More</a>, Time.com.</span></li>
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<li id="cite_note-21" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.autoinsurancetips.com/how-points-your-drivers-license-affect-your-auto-insurance-premiums" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How Points on Your Driver's Licence Affect Your Auto Insurance Premiums"</a>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+Points+on+Your+Driver%27s+Licence+Affect+Your+Auto+Insurance+Premiums&rft.genre=book&rft_id=http%3A%2F%2Fwww.autoinsurancetips.com%2Fhow-points-your-drivers-license-affect-your-auto-insurance-premiums&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-MillerStafford2009-22" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-MillerStafford2009_22-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation book" style="word-wrap: break-word;">Miller, Roger LeRoy and Stafford, Alan D. (16 January 2009). <a class="external text" href="http://books.google.com/books?id=KmsptGIoV2oC&pg=PA475" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;"><i>Economic Education for Consumers</i></a>. Cengage Learning. p. 475. <a href="http://en.wikipedia.org/wiki/International_Standard_Book_Number" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Standard Book Number">ISBN</a> <a href="http://en.wikipedia.org/wiki/Special:BookSources/978-0-538-44888-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Special:BookSources/978-0-538-44888-8">978-0-538-44888-8</a><span class="reference-accessdate">. Retrieved 6 September 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aulast=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.au=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.btitle=Economic+Education+for+Consumers&rft.date=16+January+2009&rft.genre=book&rft_id=http%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DKmsptGIoV2oC%26pg%3DPA475&rft.isbn=978-0-538-44888-8&rft.pages=475&rft.pub=Cengage+Learning&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-23" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.centspermilenow.org/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Cents Per Mile Now"</a>. <i>centspermilenow.org</i><span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Cents+Per+Mile+Now&rft.genre=article&rft_id=http%3A%2F%2Fwww.centspermilenow.org%2F&rft.jtitle=centspermilenow.org&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-24" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://info.insure.com/auto/progressive700.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Progressive's "pay-as-you-drive" auto insurance poised for wide rollout"</a>. insure.com<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Progressive%27s+%22pay-as-you-drive%22+auto+insurance+poised+for+wide+rollout&rft.genre=book&rft_id=http%3A%2F%2Finfo.insure.com%2Fauto%2Fprogressive700.html&rft.pub=insure.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-SS-25" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text"><a class="external text" href="http://www.progressive.com/snapshot/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Snapshot, Snapshot Discount: Pay As You Drive® (PAYD) – Progressive</a>. Progressive.com.</span></li>
<li id="cite_note-26" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre24.shtm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Need Credit or Insurance? Your credit scores helps determine how much you will pay"</a>. ftc.gov<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Need+Credit+or+Insurance%3F+Your+credit+scores+helps+determine+how+much+you+will+pay&rft.genre=book&rft_id=http%3A%2F%2Fwww.ftc.gov%2Fbcp%2Fedu%2Fpubs%2Fconsumer%2Fcredit%2Fcre24.shtm&rft.pub=ftc.gov&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-27" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://web.archive.org/web/20091105010654/http://articles.moneycentral.msn.com/Insurance/InsureYourCar/bad-credit-worse-than-bad-driving.aspx" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Bad Credit worse than bad driving"</a>. Wall Street Journal. 11 February 2009<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Bad+Credit+worse+than+bad+driving&rft.date=11+February+2009&rft.genre=book&rft_id=http%3A%2F%2Fweb.archive.org%2Fweb%2F20091105010654%2Fhttp%3A%2F%2Farticles.moneycentral.msn.com%2FInsurance%2FInsureYourCar%2Fbad-credit-worse-than-bad-driving.aspx&rft.pub=Wall+Street+Journal&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-28" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Davis, Harold (21 May 2009) <a class="external text" href="http://www.marketsandpatents.com/pdfs/stamford_advocate_sober_teen.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">'Black Box' idea travels to cars</a>.</span></li>
<li id="cite_note-29" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.peertopatent.org/patent/20090063201/activity" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">US patent application 20090063201 "SoberTeen driving insurance"</a>. Peertopatent.org (20 May 2009).</span></li>
<li id="cite_note-30" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;">Lerner, Michele (20 September 2011). <a class="external text" href="http://www.foxbusiness.com/personal-finance/2011/09/20/auto-repair-insurance-pledges-to-pay-your-breakdown-bills/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Auto repair insurance pledges to pay your breakdown bills"</a>. Fox Business<span class="reference-accessdate">. Retrieved 27 November 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Michele&rft.aulast=Lerner&rft.au=Lerner%2C+Michele&rft.btitle=Auto+repair+insurance+pledges+to+pay+your+breakdown+bills&rft.date=20+September+2011&rft.genre=book&rft_id=http%3A%2F%2Fwww.foxbusiness.com%2Fpersonal-finance%2F2011%2F09%2F20%2Fauto-repair-insurance-pledges-to-pay-your-breakdown-bills%2F&rft.pub=Fox+Business&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
</ol>
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<li style="margin-bottom: 0.1em;"><a class="external text" href="http://www.howstuffworks.com/car-insurance.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">How Car Insurance Works</a> at <a href="http://en.wikipedia.org/wiki/HowStuffWorks" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HowStuffWorks">HowStuffWorks</a></li>
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<a href="http://en.wikipedia.org/wiki/Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;" title="Insurance">Insurance</a></div>
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<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Types of insurance</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
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<a href="http://en.wikipedia.org/wiki/Health_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Health insurance">Health</a></div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Accidental_death_and_dismemberment_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Accidental death and dismemberment insurance">Accidental death and dismemberment insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Dental_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Dental insurance">Dental insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Disability insurance">Disability insurance</a> (<a href="http://en.wikipedia.org/wiki/Total_permanent_disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Total permanent disability insurance">Total permanent disability insurance</a>)</li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Income_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Income protection insurance">Income protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Long-term_care_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Long-term care insurance">Long-term care insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/National_health_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="National health insurance">National health insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Payment_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Payment protection insurance">Payment protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Vision_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Vision insurance">Vision insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
<a href="http://en.wikipedia.org/wiki/Life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Life insurance">Life</a></div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage life insurance">Mortgage life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Permanent_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Permanent life insurance">Permanent life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Term_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Term life insurance">Term life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Universal life insurance">Universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Variable_universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Variable universal life insurance">Variable universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Whole_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Whole life insurance">Whole life insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Business</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Bond_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Bond insurance">Bond insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Directors and officers liability insurance">Directors and officers liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Fidelity_bond" style="background-image: none; color: #0b0080; text-decoration: none;" title="Fidelity bond">Fidelity bond</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Professional_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Professional liability insurance">Professional liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Protection_and_indemnity_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Protection and indemnity insurance">Protection and indemnity insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Trade_credit_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Trade credit insurance">Trade credit insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Umbrella_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Umbrella insurance">Umbrella insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Residential</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Contents_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Contents insurance">Contents insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Earthquake insurance">Earthquake insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Flood insurance">Flood insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Home_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Home insurance">Home insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Landlords_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Landlords insurance">Landlords insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Lenders_mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Lenders mortgage insurance">Lenders mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage insurance">Mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Property_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Property insurance">Property insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Renters_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Renters insurance">Renters insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Title_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Title insurance">Title insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Transport/<br />Communication</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Aviation_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Aviation insurance">Aviation insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Computer_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Computer insurance">Computer insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Marine_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Marine insurance">Marine insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Satellite_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Satellite insurance">Satellite insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Travel_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Travel insurance">Travel insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><strong class="selflink">Vehicle insurance</strong></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Other</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Reinsurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Reinsurance">Reinsurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Casualty_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Casualty insurance">Casualty insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crime_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crime insurance">Crime insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crop_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crop insurance">Crop insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Group_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Group insurance">Group insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Liability insurance">Liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="No-fault insurance">No-fault insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Pet_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Pet insurance">Pet insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Terrorism_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Terrorism insurance">Terrorism insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Wage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Wage insurance">Wage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Weather_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Weather insurance">Weather insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Workers%27_compensation" style="background-image: none; color: #0b0080; text-decoration: none;" title="Workers' compensation">Workers' compensation</a></li>
</ul>
</div>
</td></tr>
</tbody></table>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Insurance policy and law</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_policy" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance policy">Insurance policy</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_law" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance law">Insurance law</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Health_Insurance_Portability_and_Accountability_Act" style="background-image: none; color: #0b0080; text-decoration: none;" title="Health Insurance Portability and Accountability Act">Health Insurance Portability and Accountability Act</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Other</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/History_of_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="History of insurance">History of insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Unitised_assurance_fund" style="background-image: none; color: #0b0080; text-decoration: none;" title="Unitised assurance fund">Unitised assurance fund</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><td class="navbox-abovebelow" colspan="2" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: center;"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Category:Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Category:Insurance">Category</a></b></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Outline_of_finance#Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Outline of finance">List of topics</a></b></li>
</ul>
</td></tr>
</tbody></table>
</td></tr>
</tbody></table>
</div>
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<a href="http://en.wikipedia.org/wiki/Help:Categories" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Help:Categories">Categories</a>: <ul style="display: inline; line-height: 1.5em; list-style: none none; margin: 0px; padding: 0px;">
<li style="border-left-style: none; display: inline-block; line-height: 1.25em; margin: 0.125em 0px; padding: 0px 0.5em 0px 0.25em; zoom: 1;"><a href="http://en.wikipedia.org/wiki/Category:Vehicle_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Category:Vehicle insurance">Vehicle insurance</a></li>
</ul>
</div>
</div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-53986477606947535112013-05-06T00:34:00.001-07:002015-02-13T20:56:43.960-08:00<br />
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From Wikipedia, the free encyclopedia</div>
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<a class="image" href="http://en.wikipedia.org/wiki/File:Car_crash_1.jpg" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><img alt="" class="thumbimage" height="165" src="http://upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/220px-Car_crash_1.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/330px-Car_crash_1.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/440px-Car_crash_1.jpg 2x" style="background-color: white; border: 1px solid rgb(204, 204, 204); vertical-align: middle;" width="220" /></a><div class="thumbcaption" style="border: none; font-size: 11px; line-height: 1.4em; padding: 3px !important; text-align: left;">
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Vehicle insurance, in exchange for a premium, will pay valid claims arising out of traffic collisions such as the above.</div>
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<div style="line-height: 1.5em; margin-bottom: 0.5em; margin-top: 0.4em;">
<b>Vehicle insurance</b> (also known as <b>auto insurance</b>, <b><a class="mw-redirect" href="http://en.wikipedia.org/wiki/GAP_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GAP insurance">GAP insurance</a></b>, <b>car insurance</b>, or <b>motor insurance</b>) is <a href="http://en.wikipedia.org/wiki/Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance">insurance</a> purchased for <a href="http://en.wikipedia.org/wiki/Automobile" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Automobile">cars</a>, <a href="http://en.wikipedia.org/wiki/Truck" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Truck">trucks</a>,<a href="http://en.wikipedia.org/wiki/Motorcycle" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motorcycle">motorcycles</a>, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from <a href="http://en.wikipedia.org/wiki/Traffic_collision" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Traffic collision">traffic collisions</a> and against <a href="http://en.wikipedia.org/wiki/Legal_liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Legal liability">liability</a> that could also arise therefrom. The specific terms of vehicle insurance vary with legal <a href="http://en.wikipedia.org/wiki/Regulation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Regulation">regulations</a> in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.</div>
<table class="toc" id="toc" style="background-color: #f9f9f9; border: 1px solid rgb(170, 170, 170); font-size: 12px; padding: 5px;"><tbody>
<tr><td><div id="toctitle" style="direction: ltr; text-align: center;">
<h2 style="background-image: none; border: none; display: inline; font-size: 12px; margin: 0px 0px 0.6em; overflow: hidden; padding: 0px;">
Contents</h2>
<span class="toctoggle" style="-webkit-user-select: none; font-size: 11px;"> [<a class="internal" href="http://en.wikipedia.org/wiki/Vehicle_insurance#" id="togglelink" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">hide</a>] </span></div>
<ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0.3em 0px; padding: 0px;">
<li class="toclevel-1 tocsection-1" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Public_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1</span> <span class="toctext">Public policies</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-2" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.1</span> <span class="toctext">Australia</span></a></li>
<li class="toclevel-2 tocsection-3" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Canada" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.2</span> <span class="toctext">Canada</span></a></li>
<li class="toclevel-2 tocsection-4" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Germany" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.3</span> <span class="toctext">Germany</span></a></li>
<li class="toclevel-2 tocsection-5" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Hungary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.4</span> <span class="toctext">Hungary</span></a></li>
<li class="toclevel-2 tocsection-6" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Indonesia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.5</span> <span class="toctext">Indonesia</span></a></li>
<li class="toclevel-2 tocsection-7" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#India" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.6</span> <span class="toctext">India</span></a></li>
<li class="toclevel-2 tocsection-8" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.7</span> <span class="toctext">Ireland</span></a></li>
<li class="toclevel-2 tocsection-9" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#New_Zealand" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.8</span> <span class="toctext">New Zealand</span></a></li>
<li class="toclevel-2 tocsection-10" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Norway" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.9</span> <span class="toctext">Norway</span></a></li>
<li class="toclevel-2 tocsection-11" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Romania" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.10</span> <span class="toctext">Romania</span></a></li>
<li class="toclevel-2 tocsection-12" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#South_Africa" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.11</span> <span class="toctext">South Africa</span></a></li>
<li class="toclevel-2 tocsection-13" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_Kingdom" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12</span> <span class="toctext">United Kingdom</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-14" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Investigation_into_repair_costs_.26_fraudulent_claims" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.12.1</span> <span class="toctext">Investigation into repair costs & fraudulent claims</span></a></li>
</ul>
</li>
<li class="toclevel-2 tocsection-15" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">1.13</span> <span class="toctext">United States</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-16" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Coverage_levels" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">2</span> <span class="toctext">Coverage levels</span></a></li>
<li class="toclevel-1 tocsection-17" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3</span> <span class="toctext">Excess</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-18" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Compulsory_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.1</span> <span class="toctext">Compulsory excess</span></a></li>
<li class="toclevel-2 tocsection-19" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Voluntary_excess" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">3.2</span> <span class="toctext">Voluntary excess</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-20" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Basis_of_premium_charges" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4</span> <span class="toctext">Basis of premium charges</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-2 tocsection-21" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.1</span> <span class="toctext">Gender</span></a></li>
<li class="toclevel-2 tocsection-22" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Age" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.2</span> <span class="toctext">Age</span></a></li>
<li class="toclevel-2 tocsection-23" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#U.S._driving_history" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.3</span> <span class="toctext">U.S. driving history</span></a></li>
<li class="toclevel-2 tocsection-24" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Marital_status" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.4</span> <span class="toctext">Marital status</span></a></li>
<li class="toclevel-2 tocsection-25" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Vehicle_classification" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.5</span> <span class="toctext">Vehicle classification</span></a></li>
<li class="toclevel-2 tocsection-26" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Distance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6</span> <span class="toctext">Distance</span></a><ul style="line-height: 1.5em; list-style-image: none; list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px;">
<li class="toclevel-3 tocsection-27" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Reasonable_distance_estimation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.1</span> <span class="toctext">Reasonable distance estimation</span></a></li>
<li class="toclevel-3 tocsection-28" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Odometer-based_systems" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.2</span> <span class="toctext">Odometer-based systems</span></a></li>
<li class="toclevel-3 tocsection-29" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#GPS-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.3</span> <span class="toctext">GPS-based system</span></a></li>
<li class="toclevel-3 tocsection-30" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#OBDII-based_system" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.6.4</span> <span class="toctext">OBDII-based system</span></a></li>
</ul>
</li>
<li class="toclevel-2 tocsection-31" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Credit_ratings" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.7</span> <span class="toctext">Credit ratings</span></a></li>
<li class="toclevel-2 tocsection-32" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Behavior-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">4.8</span> <span class="toctext">Behavior-based insurance</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-33" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#Repair_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">5</span> <span class="toctext">Repair insurance</span></a></li>
<li class="toclevel-1 tocsection-34" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#See_also" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">6</span> <span class="toctext">See also</span></a></li>
<li class="toclevel-1 tocsection-35" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#References" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">7</span> <span class="toctext">References</span></a></li>
<li class="toclevel-1 tocsection-36" style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#External_links" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><span class="tocnumber">8</span> <span class="toctext">External links</span></a></li>
</ul>
</td></tr>
</tbody></table>
<h2 style="background-image: none; border-bottom-color: rgb(170, 170, 170); border-bottom-style: solid; border-bottom-width: 1px; font-size: 19px; font-weight: normal; margin: 0px 0px 0.6em; overflow: hidden; padding-bottom: 0.17em; padding-top: 0.5em;">
<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Public policies">edit</a>]</span><span class="mw-headline" id="Public_policies">Public policies</span></h2>
<div style="line-height: 1.5em; margin-bottom: 0.5em; margin-top: 0.4em;">
In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly.</div>
<div style="line-height: 1.5em; margin-bottom: 0.5em; margin-top: 0.4em;">
Several jurisdictions have experimented with a "pay-as-you-drive" insurance plan which is paid through a gasoline tax (petrol tax). This would address issues of uninsured motorists and also charge based on the miles (kilometres) driven, which could theoretically increase the efficiency of the insurance, through streamlined collection.<sup class="reference" id="cite_ref-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[1]</a></sup></div>
<h3 style="background-image: none; border-bottom-style: none; font-size: 17px; margin: 0px 0px 0.3em; overflow: hidden; padding-bottom: 0.17em; padding-top: 0.5em;">
<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Australia">edit</a>]</span><span class="mw-headline" id="Australia">Australia</span></h3>
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In <a href="http://en.wikipedia.org/wiki/New_South_Wales" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="New South Wales">New South Wales</a> and the <a href="http://en.wikipedia.org/wiki/Northern_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Territory">Northern Territory</a> Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. A 'Green Slip,'<sup class="reference" id="cite_ref-2" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[2]</a></sup> another name by which CTP Insurance is commonly known due to the colour of the pages which the form is printed on, must be obtained through one of the five licenced insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA now also supplies CTP but is only for over 50's who are no longer working full-time.</div>
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A similar scheme applies in the <a href="http://en.wikipedia.org/wiki/Australian_Capital_Territory" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Australian Capital Territory">Australian Capital Territory</a>. Currently, Insurance Australia Limited (NRMA) is the only CTP Insurer in the ACT.</div>
<div style="line-height: 1.5em; margin-bottom: 0.5em; margin-top: 0.4em;">
In <a href="http://en.wikipedia.org/wiki/Victoria_(Australia)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Victoria (Australia)">Victoria</a>, Third Party Personal insurance from the <a href="http://en.wikipedia.org/wiki/Transport_Accident_Commission" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Transport Accident Commission">Transport Accident Commission</a> is similarly included, through a levy, in the vehicle registration fee.</div>
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In <a href="http://en.wikipedia.org/wiki/Queensland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Queensland">Queensland</a>, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight band.</div>
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In <a href="http://en.wikipedia.org/wiki/South_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="South Australia">South Australia</a>, Third Party Personal insurance from the <a class="new" href="http://en.wikipedia.org/w/index.php?title=Motor_Accident_Commission&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Motor Accident Commission (page does not exist)">Motor Accident Commission</a> is included in the <a href="http://en.wikipedia.org/wiki/Driver%27s_license" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Driver's license">licence</a> registration fee for people over 17. A similar scheme applies in <a href="http://en.wikipedia.org/wiki/Western_Australia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Western Australia">Western Australia</a>.</div>
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These state based third party insurance schemes usually cover only personal injury liability. Comprehensive and Third Party Property insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.</div>
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CTP only covers personal injury liability.</div>
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Third Party Property Insurance covers damage to someone else's property or vehicle, but not your own vehicle.</div>
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Third Party Property Insurance with Fire and Theft is the same as above, but will cover your vehicle in the event of fire or theft normally up to maximum of $5,000.</div>
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Comprehensive Insurance covers damage to someone else's property or vehicle as well as your own.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Canada">edit</a>]</span><span class="mw-headline" id="Canada">Canada</span></h3>
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Several Canadian provinces (<a href="http://en.wikipedia.org/wiki/British_Columbia" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="British Columbia">British Columbia</a>, <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, <a href="http://en.wikipedia.org/wiki/Manitoba" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Manitoba">Manitoba</a> and <a href="http://en.wikipedia.org/wiki/Quebec" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Quebec">Quebec</a>) provide a <a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">public auto insurance</a> system while in the rest of the country insurance is provided privately. Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for <a href="http://en.wikipedia.org/wiki/Newfoundland_and_Labrador" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Newfoundland and Labrador">Newfoundland and Labrador</a>. All provinces in Canada have some form of <a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No-fault insurance">no-fault insurance</a> available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international assailant must provide themselves with Canadian Insurance. The IIB is reinstated every time the international assailant enters the country. Damage to the driver's own vehicle is optional – one notable exception to this is in <a href="http://en.wikipedia.org/wiki/Saskatchewan" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan">Saskatchewan</a>, where <a href="http://en.wikipedia.org/wiki/Saskatchewan_Government_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Saskatchewan Government Insurance">SGI</a> provides collision coverage (less than a $1000<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, such as a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Collision_damage_waiver" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Collision damage waiver">collision damage waiver</a>) as part of its basic insurance policy. In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.<sup class="reference" id="cite_ref-ibc_3-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-ibc-3" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[3]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Germany">edit</a>]</span><span class="mw-headline" id="Germany">Germany</span></h3>
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Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany. Besides, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurances are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.<sup class="reference" id="cite_ref-4" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[4]</a></sup></div>
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The minimum coverage defined by Germany law for car liability insurance / third party personal insurance is:<br />7.5 million euro for bodily injury (damage to people), 1 million euro for property damage and 50,000 euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. Indeed Insurance Companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of 8 to 15 million euro for EACH bodily injured person).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Hungary">edit</a>]</span><span class="mw-headline" id="Hungary">Hungary</span></h3>
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Third-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 500M (about €1.8M) per accident without deductible. The coverage is extended to <a href="http://en.wikipedia.org/wiki/HUF" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HUF">HUF</a> 1,250M (about €4.5M) in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border.<sup class="reference" id="cite_ref-5" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[5]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Indonesia">edit</a>]</span><span class="mw-headline" id="Indonesia">Indonesia</span></h3>
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Third-party vehicle Insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. Third Party vehicle insurance is included through a levy in the vehicle registration fee which is paid to government institution that known as "Samsat". Third-Party Vehicle Insurance is regulated under Act No. 34 Year 1964 Re: Road Traffic Accident Fund and merely covers Bodily injury, and managed by a SOE named PT. Jasa Raharja (Persero).<sup class="reference" id="cite_ref-6" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[6]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: India">edit</a>]</span><span class="mw-headline" id="India">India</span></h3>
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A Sample Vehicle Insurance Certificate in India</div>
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Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides <i>accident cover for individual owners</i> of the vehicle while driving and also for <i>passengers and third party legal liability</i>. There are certain general insurance companies who also offer online insurance service for the vehicle.</div>
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Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India, like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.</div>
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There are different types of Auto Insurance in India :</div>
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Private Car Insurance – In the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.</div>
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Two Wheeler Insurance – The Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.</div>
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Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:</div>
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<li style="margin-bottom: 0.1em;">Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.</li>
<li style="margin-bottom: 0.1em;">Liability for third party injury/death, third party property and liability to paid driver</li>
<li style="margin-bottom: 0.1em;">On payment of appropriate additional premium, loss/damage to electrical/electronic accessories</li>
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The auto insurance does not include:</div>
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<li style="margin-bottom: 0.1em;">Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage</li>
<li style="margin-bottom: 0.1em;">When vehicle is used outside the geographical area</li>
<li style="margin-bottom: 0.1em;">War or nuclear perils and drunken driving</li>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Ireland">edit</a>]</span><span class="mw-headline" id="Ireland">Ireland</span></h3>
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The Road Traffic Act, 1933 requires all drivers of mechanically propelled vehicles in public places to have at least third-party insurance, or to have obtained exemption – generally by depositing a (large) sum of money with the High Court as a guarantee against claims. In 1933 this figure was set at <a href="http://en.wikipedia.org/wiki/IEP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="IEP">£</a>15,000.<sup class="reference" id="cite_ref-7" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[7]</a></sup> The Road Traffic Act, 1961<sup class="reference" id="cite_ref-8" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[8]</a></sup> (which is currently in force) repealed the 1933 act but replaced these sections with functionally identical sections.</div>
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From 1968, those making deposits require the consent of the Minister for Transport to do so, with the sum specified by the Minister.</div>
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Those not exempted from obtaining insurance must obtain a certificate of insurance from their insurance provider, and display a portion of this (an <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_disc&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance disc (page does not exist)">insurance disc</a>) on their vehicles windscreen (if fitted). The certificate in full must be presented to a police station within ten days if requested by an officer. Proof of having insurance or an exemption must also be provided to pay for the <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Motor_Tax_in_the_Republic_of_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Tax in the Republic of Ireland">motor tax</a>.</div>
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Those injured or suffering property damage/loss due to uninsured drivers can claim against the Motor Insurance Bureau of Ireland's uninsured drivers fund, as can those injured (but not those suffering damage or loss) from hit and run offences.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: New Zealand">edit</a>]</span><span class="mw-headline" id="New_Zealand">New Zealand</span></h3>
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Within New Zealand, the <a href="http://en.wikipedia.org/wiki/Accident_Compensation_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Accident Compensation Corporation">Accident Compensation Corporation</a> (ACC) provides nationwide no-fault personal injury insurance.<sup class="reference" id="cite_ref-9" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[9]</a></sup> Injuries involving motor vehicles operating on public roads are covered by the Motor Vehicle Account, for which premiums are collected through levies on petrol and through vehicle licensing fees.<sup class="reference" id="cite_ref-10" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[10]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Norway">edit</a>]</span><span class="mw-headline" id="Norway">Norway</span></h3>
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In Norway, the vehicle owner must provide the minimum of liability insurance for his vehicle(s) – of any kind. Otherwise, the vehicle is illegal to use. If a person drives a vehicle belonging to someone else, and has an accident, the insurance will cover for damage done.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Romania">edit</a>]</span><span class="mw-headline" id="Romania">Romania</span></h3>
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Romanian law mandates <a href="http://en.wikipedia.org/wiki/Civil_Auto_Liability" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Civil Auto Liability">Răspundere Auto Civilă</a>, a motor-vehicle liability insurance for all vehicle owners to cover damages to third parties.<sup class="reference" id="cite_ref-11" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[11]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: South Africa">edit</a>]</span><span class="mw-headline" id="South_Africa">South Africa</span></h3>
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South Africa allocates a percentage of the money from gasoline into the <a href="http://en.wikipedia.org/wiki/Road_Accident_Fund" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Road Accident Fund">Road Accident Fund</a>, which goes towards compensating third parties in accidents.<sup class="reference" id="cite_ref-12" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[12]</a></sup><sup class="reference" id="cite_ref-13" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[13]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United Kingdom">edit</a>]</span><span class="mw-headline" id="United_Kingdom">United Kingdom</span></h3>
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<a class="image" href="http://en.wikipedia.org/wiki/File:Uninsured_cars_seized_by_police_in_Liverpool.JPG" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><img alt="" class="thumbimage" height="165" src="http://upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/220px-Uninsured_cars_seized_by_police_in_Liverpool.JPG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/330px-Uninsured_cars_seized_by_police_in_Liverpool.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/88/Uninsured_cars_seized_by_police_in_Liverpool.JPG/440px-Uninsured_cars_seized_by_police_in_Liverpool.JPG 2x" style="background-color: white; border: 1px solid rgb(204, 204, 204); vertical-align: middle;" width="220" /></a><div class="thumbcaption" style="border: none; font-size: 11px; line-height: 1.4em; padding: 3px !important; text-align: left;">
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Uninsured cars seized by the <a href="http://en.wikipedia.org/wiki/Merseyside_Police" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Merseyside Police">Merseyside Police</a> on display outside the force's headquarters in 2006</div>
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In 1930, the UK government introduced a law that required every person who used a vehicle on the road to have at least third party personal injury insurance. Today, UK law is defined by the <a class="external text" href="http://www.legislation.gov.uk/ukpga/1988/52/contents" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act 1988</a>, which was last modified in 1991. The Act requires that motorists either be insured, have a security, or have made a specified deposit (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/GBP" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="GBP">£</a>500,000 as of 1991) with the Accountant General of the Supreme Court, against their liability for injuries to others (including passengers) and for damage to other persons' property, resulting from use of a vehicle on a public road or in other public places.</div>
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It is an offense to use a car, or allow others to use it, without the insurance that satisfies the act whilst on the public highway (or public place Section 143(1)(a) RTA 1988 as amended 1991); however, no such legislation applies on private land.</div>
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<i><a href="http://en.wikipedia.org/wiki/RTA_Insurer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="RTA Insurer">Road Traffic Act Only Insurance</a></i> differs from <i>Third Party Only Insurance</i> (detailed below) and is not often sold. It provides the very minimum cover to satisfy the requirements of the Act. For example <i>Road Traffic Act Only Insurance</i> has a limit of £1,000,000 for damage to third party property – third party only insurance typically has a greater limit for third party property damage. As a result of costly claims, insurance companies can now no longer place a limit on the amount that they are liable for in the event of a claim by 3rd parties against a legitimate policy. This can be explained in part by the<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Great_Heck_Rail_Crash" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Great Heck Rail Crash">Great Heck Rail Crash</a> that cost the insurers over £22 million in compensation for the fatalities and damage to property caused by the actions of the insured driver of a motor vehicle that caused the disaster.</div>
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The minimum level of insurance cover commonly available, and which satisfies the requirement of the Act, is called <i>third party only insurance</i>. The level of cover provided by <i>Third party only insurance</i> is basic, but does exceed the requirements of the act. This insurance covers any liability to third parties, but does not cover any other risks.</div>
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More commonly purchased is <i>third party, fire and theft</i>. This covers all third party liabilities and also covers the vehicle owner against the destruction of the vehicle by fire (whether malicious or due to a vehicle fault) and theft of the vehicle itself. It may or may not cover vandalism. This kind of insurance and the two preceding types do not cover damage to the vehicle caused by the driver or other hazards.</div>
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<i><a href="http://en.wikipedia.org/wiki/Comprehensive_Cover" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Comprehensive Cover">Comprehensive insurance</a></i> covers all of the above and damage to the vehicle caused by the driver themselves, as well as vandalism and other risks. This is usually the most expensive type of insurance. For valuable cars, many insurers only offer comprehensive insurance.</div>
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Vehicles that are exempt from the requirement to be covered under the Act include those owned by certain councils and local authorities, national park authorities, education authorities, police authorities, fire authorities, health service bodies and security services.</div>
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The insurance certificate or cover note issued by the insurance company constitutes legal evidence that the vehicle specified on the document is insured. The law says that an authorised person, such as the police, may require a driver to produce an insurance certificate for inspection. If the driver cannot show the document immediately on request, and proof of insurance cannot be found by other means such as the Police National Computer, drivers are no longer issued a HORT/1. This was an order with seven days, as of midnight of the date of issue, to take a valid insurance certificate (and usually other driving documents as well) to a police station of the driver's choice. Failure to produce an insurance certificate is an offence. The HORT/1 was commonly known – even by the issuing authorities when dealing with the public – as a "Producer".</div>
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Insurance is more expensive in <a href="http://en.wikipedia.org/wiki/Northern_Ireland" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Northern Ireland">Northern Ireland</a> than in other parts of the UK.<sup class="noprint Inline-Template" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Vagueness" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Vagueness"><span title="You can help — (October 2008)">vague</span></a></i>]</sup><sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2008)">citation needed</span></a></i>]</sup>. In 2010 the cost of car insurance rose by an average of 33%.<sup class="reference" id="cite_ref-14" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[14]</a></sup></div>
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All motorists in the UK are required to prominently display a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Tax_disc" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Tax disc">vehicle excise licence</a> (tax disc) on their vehicle when it is kept or driven on public roads. This helps to ensure that most people have adequate insurance on their vehicles because an insurance certificate must be produced when a disc is purchased, although the insurance must merely be valid at the time of purchase and not necessarily for the life of the tax disc.<sup class="reference" id="cite_ref-15" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[15]</a></sup></div>
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The <a href="http://en.wikipedia.org/wiki/Motor_Insurers%27_Bureau" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Motor Insurers' Bureau">Motor Insurers' Bureau</a> (MIB) compensates the victims of road accidents caused by uninsured and untraced motorists. It also operates a number of Motor Insurance Databases, which contain details of every insured vehicle in the country and acts as a means to share information between <a class="new" href="http://en.wikipedia.org/w/index.php?title=Insurance_Companies&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Insurance Companies (page does not exist)">Insurance Companies</a>.</div>
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On 1 March 2011 the European Court of Justice in Luxembourg ruled that gender could no longer be used by insurers to set car insurance premiums. The new ruling will come into action from December 2012.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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In June 2011 a new law known as Continuous Insurance Enforcement came into force in the UK meaning that a vehicle must have a valid insurance policy if it has a tax disc, whether or not it is kept on public roads and whether or not it is driven.<sup class="reference" id="cite_ref-16" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[16]</a></sup> If the car is to be "laid up" for whatever reason, the tax disc must be surrendered and a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/SORN" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="SORN">SORN</a> declaration completed to say that it is off the public roads.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Investigation into repair costs & fraudulent claims">edit</a>]</span><span class="mw-headline" id="Investigation_into_repair_costs_.26_fraudulent_claims">Investigation into repair costs & fraudulent claims</span></h4>
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In September 2012 it was announced that the Competition Commission had launched an investigation into the UK system for credit repairs and credit hire of an alternative vehicle by a 3rd party following a non-fault accident. It was announced that insurers of vehicles that had caused a valid claim were unable to control the costs that were applied to the claim by means of repairs, storage, vehicle hire, referral fees and personal injury claims. Many accident management companies will take over the running of a non fault claim and arrange everything for the 3rd party. The subsequent cost of some of the items submitted for consideration has been a cause for concern over recent years and this has caused an increase in the premium costs. Also, the recent craze of "Cash for crash" has substantially raised the cost of policies. This is where two parties arrange a collision between their vehicles and one driver making excessive claims for damage and non existent injuries to themselves and the passengers that they had arranged to be "in the vehicle" at the time of the collision. Another recent development has seen crashes being caused delibarately by a driver "slamming" on their brakes so that the driver behind impacts them, this is usually carried out at roundabout junctions, when the following driver is looking to the right for oncoming traffic and does not notice that the vehicle in front has suddenly stopped for no reason.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: United States">edit</a>]</span><span class="mw-headline" id="United_States">United States</span></h3>
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Main article: <a href="http://en.wikipedia.org/wiki/Vehicle_insurance_in_the_United_States" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle insurance in the United States">Vehicle insurance in the United States</a></div>
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The regulations for vehicle insurance differ with each of the 50 US states and other territories (<i>see separate main article</i>).</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Coverage levels">edit</a>]</span><span class="mw-headline" id="Coverage_levels">Coverage levels</span></h2>
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Vehicle insurance can cover some or all of the following items:</div>
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<li style="margin-bottom: 0.1em;">The insured party (medical payments)</li>
<li style="margin-bottom: 0.1em;">The insured vehicle (physical damage)</li>
<li style="margin-bottom: 0.1em;">Third parties (car and people, property damage and bodily injury)</li>
<li style="margin-bottom: 0.1em;">Third party, fire and theft</li>
<li style="margin-bottom: 0.1em;">In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)</li>
<li style="margin-bottom: 0.1em;">The cost to rent a vehicle if yours is damaged.</li>
<li style="margin-bottom: 0.1em;">The cost to tow your vehicle to a repair facility.</li>
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Different policies specify the circumstances under which each item is covered. For example, a vehicle can be insured against theft, fire damage, or accident damage independently.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Excess">edit</a>]</span><span class="mw-headline" id="Excess">Excess</span></h2>
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An excess payment, also known as a <a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy. Normally this payment is made directly to the accident repair "garage" (the term "garage" refers to an establishment where vehicles are serviced and repaired) when the owner collects the car. If one's car is declared to be a "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Write_off" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Write off">write off</a>" (or "<a class="mw-redirect" href="http://en.wikipedia.org/wiki/Totaled" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Totaled">totaled</a>"), then the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to the owner.</div>
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If the accident was the other driver's fault, and this fault is accepted by the third party's insurer, then the vehicle owner may be able to reclaim the excess payment from the other person's insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Compulsory excess">edit</a>]</span><span class="mw-headline" id="Compulsory_excess">Compulsory excess</span></h3>
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A compulsory excess is the minimum excess payment the insurer will accept on the insurance policy. Minimum excesses vary according to the personal details, driving record and the insurance company.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Voluntary excess">edit</a>]</span><span class="mw-headline" id="Voluntary_excess">Voluntary excess</span></h3>
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To reduce the insurance premium, the insured party may offer to pay a higher excess (deductible) than the compulsory excess demanded by the insurance company. The voluntary excess is the extra amount, over and above the compulsory excess, that is agreed to be paid in the event of a claim on the policy. As a bigger excess reduces the financial risk carried by the insurer, the insurer is able to offer a significantly lower premium.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Basis of premium charges">edit</a>]</span><span class="mw-headline" id="Basis_of_premium_charges">Basis of premium charges</span></h2>
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Main article: <a href="http://en.wikipedia.org/wiki/Auto_insurance_risk_selection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Auto insurance risk selection">auto insurance risk selection</a></div>
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Depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company, in accordance with a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages.</div>
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When the premium is not mandated by the government, it is usually derived from the calculations of an <a href="http://en.wikipedia.org/wiki/Actuary" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Actuary">actuary</a>, based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Insurance_claim" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance claim">claims</a>.<sup class="reference" id="cite_ref-17" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[17]</a></sup> Those factors can include the car characteristics, the coverage selected (<a href="http://en.wikipedia.org/wiki/Deductible" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Deductible">deductible</a>, limit, covered perils), the profile of the driver (<a href="http://en.wikipedia.org/wiki/Ageing" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Ageing">age</a>, <a href="http://en.wikipedia.org/wiki/Gender" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Gender">gender</a>, driving history) and the usage of the car (commute to work or not, predicted annual distance driven).<sup class="reference" id="cite_ref-18" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[18]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Gender">edit</a>]</span><span class="mw-headline" id="Gender">Gender</span></h3>
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On 1 March 2011, the <a href="http://en.wikipedia.org/wiki/European_Court_of_Justice" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="European Court of Justice">European Court of Justice</a> controversially decided insurance companies who used gender as a risk factor when calculating insurance premiums were breaching EU equality laws.<sup class="reference" id="cite_ref-T409_19-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup> The Court ruled that car-insurance companies were discriminating against men.<sup class="reference" id="cite_ref-T409_19-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-T409-19" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[19]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Age">edit</a>]</span><span class="mw-headline" id="Age">Age</span></h3>
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Teenage drivers who have no driving record will have higher car insurance premiums. However, young drivers are often offered discounts if they undertake further driver training on recognized courses, such as the <a href="http://en.wikipedia.org/wiki/Pass_Plus" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pass Plus">Pass Plus</a> scheme in the UK. In the US many insurers offer a good-grade discount to students with a good academic record and resident-student discounts to those who live away from home. Generally insurance premiums tend to become lower at the age of 25. Some insurance companies offer "stand alone" car insurance policies specifically for teenagers with lower premiums. By placing restrictions on teenagers' driving (forbidding driving after dark, or giving rides to other teens, for example), these companies effectively reduce their risk.<sup class="reference" id="cite_ref-20" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[20]</a></sup></div>
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Senior drivers are often eligible for retirement discounts, reflecting the lower average miles driven by this age group. However, rates may increase for senior drivers after age 65, due to increased risk associated with much older drivers. Typically, the increased risk for drivers over 65 years of age is associated with slower reflexes, reaction times, and being more injury-prone.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2011)">citation needed</span></a></i>]</sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: U.S. driving history">edit</a>]</span><span class="mw-headline" id="U.S._driving_history">U.S. driving history</span></h3>
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In most U.S. states, moving violations, including running red lights and speeding, assess points on a driver's driving record. Since more points indicate an increased risk of future violations, insurance companies periodically review drivers' records, and may raise premiums accordingly. Laws vary from state to state, but most insurers allow one moving violation every three to five years before increasing premiums. Accidents affect insurance premiums similarly. Depending on the severity of the accident and the number of points assessed, rates can increase by as much as twenty to thirty percent.<sup class="reference" id="cite_ref-21" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[21]</a></sup> Any motoring convictions should be disclosed to insurers, as the driver is assessed by risk from prior experiences while driving on the road.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Marital status">edit</a>]</span><span class="mw-headline" id="Marital_status">Marital status</span></h3>
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Statistics show that married drivers average fewer accidents than the rest of the population so policy owners who are married often receive lower premiums than single persons.<sup class="reference" id="cite_ref-MillerStafford2009_22-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-MillerStafford2009-22" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[22]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Vehicle classification">edit</a>]</span><span class="mw-headline" id="Vehicle_classification">Vehicle classification</span></h3>
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Two of the most important factors that go into determining the underwriting risk on motorized vehicles are: performance capability and retail cost. The most commonly available providers of auto insurance have underwriting restrictions against vehicles that are either designed to be capable of higher speeds and performance levels, or vehicles that retail above a certain dollar amount. Vehicles that are commonly considered luxury automobiles usually carry more expensive physical damage premiums because they are more expensive to replace. Vehicles that can be classified as high performance autos will carry higher premiums generally because there is greater opportunity for risky driving behavior. Motorcycle insurance may carry lower property-damage premiums because the risk of damage to other vehicles is minimal, yet have higher liability or personal-injury premiums, because motorcycle riders face different physical risks while on the road. Risk classification on automobiles also takes into account the statistical analysis of reported theft, accidents, and mechanical malfunction on every given year, make, and model of auto.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Distance">edit</a>]</span><span class="mw-headline" id="Distance">Distance</span></h3>
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Some car insurance plans do not differentiate in regard to how much the car is used. There are however low-mileage discounts offered by some insurance providers. Other methods of differentiation would include: over-road distance between the ordinary residence of a subject and their ordinary, daily destinations.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Reasonable distance estimation">edit</a>]</span><span class="mw-headline" id="Reasonable_distance_estimation">Reasonable distance estimation</span></h4>
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Another important factor in determining car-insurance premiums involves the annual mileage put on the vehicle, and for what reason. Driving to and from work every day at a specified distance, especially in urban areas where common traffic routes are known, presents different risks than how a retiree who does not work any longer may use their vehicle. Common practice has been that this information was provided solely by the insured person, but some insurance providers have started to collect regular <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> readings to verify the risk.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Odometer-based systems">edit</a>]</span><span class="mw-headline" id="Odometer-based_systems">Odometer-based systems</span></h4>
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Cents Per Mile Now<sup class="reference" id="cite_ref-23" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[23]</a></sup> (1986) advocates classified odometer-mile rates, a type of <a href="http://en.wikipedia.org/wiki/Usage-based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage-based insurance">usage-based insurance</a>. After the company's risk factors have been applied, and the customer has accepted the per-mile rate offered, then customers buy prepaid miles of insurance protection as needed, like buying gallons of gasoline (litres of petrol). Insurance automatically ends when the <a href="http://en.wikipedia.org/wiki/Odometer" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer">odometer</a> limit (recorded on the car's insurance ID card) is reached, unless more distance is bought. Customers keep track of miles on their own odometer to know when to buy more. The company does no after-the-fact billing of the customer, and the customer doesn't have to estimate a "future annual mileage" figure for the company to obtain a discount. In the event of a traffic stop, an officer could easily verify that the insurance is current, by comparing the figure on the insurance card to that on the odometer.</div>
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Critics point out the possibility of cheating the system by <a href="http://en.wikipedia.org/wiki/Odometer_fraud" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Odometer fraud">odometer tampering</a>. Although the newer electronic odometers are difficult to roll back, they can still be defeated by disconnecting the odometer wires and reconnecting them later. However, as the Cents Per Mile Now website points out:</div>
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As a practical matter, resetting odometers requires equipment plus expertise that makes stealing insurance risky and uneconomical. For example, to steal 20,000 miles [32,200 km] of continuous protection while paying for only the 2000 in the 35000 to 37000 range on the odometer, the resetting would have to be done at least nine times, to keep the odometer reading within the narrow 2,000-mile [3,200 km] covered range. There are also powerful legal deterrents to this way of stealing insurance protection. Odometers have always served as the measuring device for resale value, rental and leasing charges, warranty limits, mechanical breakdown insurance, and cents-per-mile tax deductions or reimbursements for business or government travel. Odometer tampering, detected during claim processing, voids the insurance and, under decades-old state and federal law, is punishable by heavy fines and jail.</div>
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Under the cents-per-mile system, rewards for driving less are delivered automatically, without the need for administratively cumbersome and costly GPS technology. Uniform per-mile exposure measurement for the first time provides the basis for statistically valid rate classes. Insurer premium income automatically keeps pace with increases or decreases in driving activity, cutting back on resulting insurer demand for rate increases and preventing today's windfalls to insurers, when decreased driving activity lowers costs but not premiums.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: GPS-based system">edit</a>]</span><span class="mw-headline" id="GPS-based_system">GPS-based system</span></h4>
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In 1998, the <a href="http://en.wikipedia.org/wiki/Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Progressive Corporation">Progressive Insurance</a> company started a pilot program in Texas, in which drivers received a discount for installing a <a href="http://en.wikipedia.org/wiki/Global_Positioning_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Global Positioning System">GPS</a>-based device that tracked their driving behavior and reported the results via cellular phone to the company.<sup class="reference" id="cite_ref-24" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[24]</a></sup> Policyholders were reportedly more upset about having to pay for the expensive device than they were over privacy concerns.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2012)">citation needed</span></a></i>]</sup> The program was discontinued in 2000. In following years many policies (including Progressive) have been trialed and successfully introduced worldwide into what are referred to as <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a>. Such 'telematic' policies typically are based on <a class="new" href="http://en.wikipedia.org/w/index.php?title=Black-box_insurance&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Black-box insurance (page does not exist)">black-box insurance</a> technology, such devices derive from stolen vehicle and fleet tracking but are used for insurance purposes. Since 2010 GPS-based and <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematic_Insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematic Insurance">Telematic Insurance</a> systems have become more mainstream in the auto insurance market not just aimed at specialised auto-fleet markets or high value vehicles (with an emphasis on stolen vehicle recovery). Modern GPS-based systems are branded as 'PAYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_As_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay As You Drive">Pay As You Drive</a> insurance policies, 'PHYD' <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Pay_How_You_Drive" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Pay How You Drive">Pay How You Drive</a> or since 2012 <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Smartphone_auto_insurance_policies" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Smartphone auto insurance policies">Smartphone auto insurance policies</a> which utilise smartphones as a GPS sensor.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: OBDII-based system">edit</a>]</span><span class="mw-headline" id="OBDII-based_system">OBDII-based system</span></h4>
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<a class="mw-redirect" href="http://en.wikipedia.org/wiki/The_Progressive_Corporation" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="The Progressive Corporation">The Progressive Corporation</a> launched Snapshot to give drivers a customized insurance rate based on recording how, how much, and when their car is driven.<sup class="reference" id="cite_ref-SS_25-0" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Snapshot is currently available in 38 US states.<sup class="reference" id="cite_ref-SS_25-1" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-SS-25" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[25]</a></sup> Driving data is transmitted to the company using an on-board telematic device. The device connects to a car's OnBoard Diagnostic (<a class="mw-redirect" href="http://en.wikipedia.org/wiki/OBD-II" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="OBD-II">OBD-II</a>) port (all petrol automobiles in the USA built after 1996 have an OBD-II.) and transmits speed, time of day and number of miles the car is driven. There is no GPS in the Snapshot device, so no location information is collected. Cars that are driven less often, in less-risky ways, and at less-risky times of day, can receive large discounts. Progressive has received patents on its methods and systems of implementing usage-based insurance and has licensed these methods and systems to other companies.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=31" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Credit ratings">edit</a>]</span><span class="mw-headline" id="Credit_ratings">Credit ratings</span></h3>
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Insurance companies have started using credit ratings of their policyholders to determine risk. Drivers with good credit scores get lower insurance premiums, as it is believed that they are more financially stable, more responsible and have the financial means to better maintain their vehicles. Those with lower credit scores can have their premiums raised or insurance canceled outright.<sup class="reference" id="cite_ref-26" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[26]</a></sup> It has been shown that good drivers with spotty credit records could be charged higher premiums than bad drivers with good credit records.<sup class="reference" id="cite_ref-27" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[27]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; font-weight: normal; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=32" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Behavior-based insurance">edit</a>]</span><span class="mw-headline" id="Behavior-based_insurance">Behavior-based insurance</span></h3>
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The use of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Non-intrusive_load_monitoring" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Non-intrusive load monitoring">non-intrusive load monitoring</a> to detect <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Drunk_driving" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Drunk driving">drunk driving</a> and other risky behaviors has been proposed.<sup class="reference" id="cite_ref-28" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[28]</a></sup> A US patent application combining this technology with a <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Usage_based_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Usage based insurance">usage based insurance</a>product to create a new type of behavior based auto insurance product is currently open for public comment on <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Peer_to_patent" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Peer to patent">peer to patent</a>.<sup class="reference" id="cite_ref-29" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[29]</a></sup> <i>See <a href="http://en.wikipedia.org/wiki/Behavior-based_safety" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Behavior-based safety">Behavior-based safety</a></i>. Behaviour based Insurance focusing upon driving is often called <a href="http://en.wikipedia.org/wiki/Telematics" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics">Telematics</a> or <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Telematics2.0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Telematics2.0">Telematics2.0</a> in some cases monitoring focus upon behavioural analysis such as <a class="new" href="http://en.wikipedia.org/w/index.php?title=Smooth_driving&action=edit&redlink=1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #a55858; text-decoration: none;" title="Smooth driving (page does not exist)">Smooth driving</a>.</div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=33" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: Repair insurance">edit</a>]</span><span class="mw-headline" id="Repair_insurance">Repair insurance</span></h2>
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<img alt="Globe icon." height="40" src="http://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" style="border: none; vertical-align: middle;" width="48" /></div>
</td><td class="mbox-text" style="border: none; padding: 0.25em 0.5em; width: 811.21875px;"><span class="mbox-text-span">The examples and perspective in this section <b>deal primarily with the United States and do not represent a <a href="http://en.wikipedia.org/wiki/Wikipedia:WikiProject_Countering_systemic_bias" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>. <span class="hide-when-compact">Please <a class="external text" href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit" style="background-image: url(data:image/png; background-position: 0% 0%; background-repeat: no-repeat no-repeat; color: #663366; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 13px; padding-top: 0px !important; text-decoration: none;">improve this article</a> and discuss the issue on the <a href="http://en.wikipedia.org/wiki/Talk:Vehicle_insurance" style="background-image: none !important; background-position: initial initial !important; background-repeat: initial initial !important; color: #0b0080; padding: 0px !important; text-decoration: none;" title="Talk:Vehicle insurance">talk page</a>.</span> <small><i>(September 2012)</i></small></span></td></tr>
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<b>Auto repair insurance</b> is an extension of <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Car_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Car insurance">car insurance</a> available in all 50 of the United States that covers the natural wear and tear on a vehicle, independent of damages related to a car accident.</div>
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Some drivers opt to buy the insurance as a means of protection against costly breakdowns unrelated to an accident. In contrast to more standard and basic coverages such as comprehensive and collision insurance, auto repair insurance does not cover a vehicle when it is damaged in a collision, during a natural disaster or at the hands of vandals.<sup class="Template-Fact" style="line-height: 1em; white-space: nowrap;">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup></div>
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For many it is an attractive option for protection after the warranties on their cars expire.</div>
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Providers can also offer sub-divisions of auto repair insurance. There is standard repair insurance which covers the wear and tear of vehicles, and naturally occurring breakdowns. Some companies will only offer mechanical breakdown insurance, which only covers repairs necessary when breakable parts need to be fixed or replaced. These parts include transmissions, oil pumps, <a href="http://en.wikipedia.org/wiki/Piston" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Piston">pistons</a>, timing gears, flywheels, <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Valves" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Valves">valves</a>, axles and joints.<sup class="reference" id="cite_ref-30" style="line-height: 1em;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_note-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none; white-space: nowrap;">[30]</a></sup></div>
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<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=34" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: See also">edit</a>]</span><span class="mw-headline" id="See_also">See also</span></h2>
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<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Alcohol_exclusion_laws" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Alcohol exclusion laws">Alcohol exclusion laws</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Assigned_risk" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Assigned risk">Assigned risk</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Breakdown_(vehicle)" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Breakdown (vehicle)">Breakdown</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Extended_coverage" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Extended coverage">Extended coverage</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Family_purpose_doctrine" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Family purpose doctrine">Family purpose doctrine</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Health_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Health insurance">Health insurance</a></li>
</ul>
</td><td> </td><td valign="top"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0.3em 0px 0px 1.6em; padding: 0px;">
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/International_Motor_Insurance_Card_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Motor Insurance Card System">International Motor Insurance Card System</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Insurance_Information_and_Enforcement_System" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Insurance Information and Enforcement System">Insurance Information and Enforcement System</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/No_fault_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="No fault insurance">No fault insurance</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Omnibus_clause" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Omnibus clause">Omnibus clause</a></li>
<li style="margin-bottom: 0.1em;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="margin-bottom: 0.1em;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Vehicle_safety_inspection" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Vehicle safety inspection">Vehicle safety inspection</a></li>
</ul>
</td></tr>
</tbody></table>
<h2 style="background-image: none; border-bottom-color: rgb(170, 170, 170); border-bottom-style: solid; border-bottom-width: 1px; font-size: 19px; font-weight: normal; margin: 0px 0px 0.6em; overflow: hidden; padding-bottom: 0.17em; padding-top: 0.5em;">
<span class="editsection" style="-webkit-user-select: none; float: right; font-size: 13px; margin-left: 5px;">[<a href="http://en.wikipedia.org/w/index.php?title=Vehicle_insurance&action=edit&section=35" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Edit section: References">edit</a>]</span><span class="mw-headline" id="References">References</span></h2>
<div class="reflist references-column-width" style="-webkit-column-width: 35em; font-size: 12px; list-style-type: decimal; margin-bottom: 0.5em;">
<ol class="references" style="line-height: 1.5em; list-style-image: none; list-style-type: inherit; margin: 0.3em 0px 0.5em 3.2em; padding: 0px;">
<li id="cite_note-1" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Wenzel T. (1995). <a class="external text" href="http://www.osti.gov/energycitations/product.biblio.jsp?query_id=1&page=0&osti_id=125357" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Analysis of national pay-as-you-drive insurance systems and other variable driving charges</a>. Lawrence Berkeley Lab., CA.</span></li>
<li id="cite_note-2" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-2" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.maa.nsw.gov.au/default.aspx?MenuID=88#97" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Green Slips"</a>. New South Wales Government, Motor Accidents Authority.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Green+Slips&rft.genre=book&rft_id=http%3A%2F%2Fwww.maa.nsw.gov.au%2Fdefault.aspx%3FMenuID%3D88%2397&rft.pub=New+South+Wales+Government%2C+Motor+Accidents+Authority&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-ibc-3" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-ibc_3-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.ibc.ca/en/Car_Insurance/SK/index.asp" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance Bureau of Canada</a>. Ibc.ca (1 January 2003).</span></li>
<li id="cite_note-4" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-4" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.finanzierungsratgeber24.de/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Informationen zur Kfz Versicherung in Deutschland</a>. Finanzierungsratgeber24.de (21 September 2012).</span></li>
<li id="cite_note-5" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-5" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.abk.hu/Tudastar/KGFB_rendelet/en.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Third-party vehicle insurance in Hungary</a><sup class="noprint Inline-Template" style="line-height: 1em;"><span style="white-space: nowrap;" title=" since September 2012">[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Link_rot" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Wikipedia:Link rot">dead link</a></i>]</span></sup></span></li>
<li id="cite_note-6" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-6" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.jasaraharja.co.id/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">PT. Jasa Raharja | Asuransi Kecelakaan Lalulintas Jalan dan Penumpang Umum</a>. Jasaraharja.co.id.</span></li>
<li id="cite_note-7" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-7" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://193.178.1.79/1933/en/act/pub/0011/sec0061.html#sec61" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act, 1933, Section 61</a>. 193.178.1.79.</span></li>
<li id="cite_note-8" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://193.178.1.79/1961/en/act/pub/0024/print.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Road Traffic Act, 1961</a>. 193.178.1.79 (29 July 1961).</span></li>
<li id="cite_note-9" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-9" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/making-a-claim/am-i-covered/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Am I covered?"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Am+I+covered%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fmaking-a-claim%2Fam-i-covered%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-10" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-10" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.acc.co.nz/about-acc/overview-of-acc/how-were-funded/index.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How we're funded"</a>. Accident Compensation Corporation<span class="reference-accessdate">. Retrieved 23 December 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+we%27re+funded&rft.genre=book&rft_id=http%3A%2F%2Fwww.acc.co.nz%2Fabout-acc%2Foverview-of-acc%2Fhow-were-funded%2Findex.htm&rft.pub=Accident+Compensation+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-11" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-11" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;"><a class="external text" href="http://www.realitatea.net/politele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Poliţele RCA se scumpesc în 2009 cu 10 până la 30%"</a>. <i>Realitatea</i> (in Romanian). 6 March 2009<span class="reference-accessdate">. Retrieved 11 June 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Poli%C5%A3ele+RCA+se+scumpesc+%C3%AEn+2009+cu+10+p%C3%A2n%C4%83+la+30%25&rft.date=6+March+2009&rft.genre=article&rft_id=http%3A%2F%2Fwww.realitatea.net%2Fpolitele-rca-se-scumpesc-in-2009-cu-10-pana-la-30-la-suta_429721.html&rft.jtitle=Realitatea&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-12" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-12" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.dme.gov.za/energy/petrol_structure.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Petrol Structure"</a>. Department of Minerals and Energy, South Africa<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Petrol+Structure&rft.genre=book&rft_id=http%3A%2F%2Fwww.dme.gov.za%2Fenergy%2Fpetrol_structure.htm&rft.pub=Department+of+Minerals+and+Energy%2C+South+Africa&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-13" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-13" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.info.gov.za/gazette/acts/1996/a56-96.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"South African Road Accident Fund Act of 1996"</a>. South African Government<span class="reference-accessdate">. Retrieved 4 December 2009</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=South+African+Road+Accident+Fund+Act+of+1996&rft.genre=book&rft_id=http%3A%2F%2Fwww.info.gov.za%2Fgazette%2Facts%2F1996%2Fa56-96.htm&rft.pub=South+African+Government&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-14" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-14" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.bbc.co.uk/news/business-12581915" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Insurance pricing to change soon, warns AA</a>, <i><a href="http://en.wikipedia.org/wiki/BBC_News" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="BBC News">BBC News</a></i> 28 February 2011. Retrieved 1 March 2011</span></li>
<li id="cite_note-15" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-15" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.taxdisc.direct.gov.uk/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">DVLA Vehicle Licensing Online</a>. Taxdisc.direct.gov.uk.</span></li>
<li id="cite_note-16" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-16" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.direct.gov.uk/en/Motoring/OwningAVehicle/Motorinsurance/DG_186696?CID=Continuous_Insurance&PLA=DM&CRE=Furl" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Stay insured: penalties for vehicles without motor insurance : Directgov – Motoring</a>. Direct.gov.uk.</span></li>
<li id="cite_note-17" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-17" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;">McClenahan, Charles. <a class="external text" href="http://www.casact.org/admissions/syllabus/ch3.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">"Ratemaking"</a> (PDF). Casualty Actuarial Society<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Charles&rft.aulast=McClenahan&rft.au=McClenahan%2C+Charles&rft.btitle=Ratemaking&rft.genre=book&rft_id=http%3A%2F%2Fwww.casact.org%2Fadmissions%2Fsyllabus%2Fch3.pdf&rft.pub=Casualty+Actuarial+Society&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-18" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-18" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.iii.org/individuals/auto/b/whatdetermines/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"What determines the price of my policy?"</a>. Insurance Information Institute<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=What+determines+the+price+of+my+policy%3F&rft.genre=book&rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fauto%2Fb%2Fwhatdetermines%2F&rft.pub=Insurance+Information+Institute&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-T409-19" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-T409_19-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text">Cendrowicz, Leo (2 March 2011) <a class="external text" href="http://www.time.com/time/business/article/0,8599,2056409,00.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">E.U. Court to Insurers: Stop Making Men Pay More</a>, Time.com.</span></li>
<li id="cite_note-20" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-20" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://autoinsurancetips.com/auto-insurance-teens" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Auto Insurance for Teens"</a>. <i>autoinsurancetips.com</i>. 21 April 2009.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Auto+Insurance+for+Teens&rft.date=21+April+2009&rft.genre=article&rft_id=http%3A%2F%2Fautoinsurancetips.com%2Fauto-insurance-teens&rft.jtitle=autoinsurancetips.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-21" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-21" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.autoinsurancetips.com/how-points-your-drivers-license-affect-your-auto-insurance-premiums" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"How Points on Your Driver's Licence Affect Your Auto Insurance Premiums"</a>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=How+Points+on+Your+Driver%27s+Licence+Affect+Your+Auto+Insurance+Premiums&rft.genre=book&rft_id=http%3A%2F%2Fwww.autoinsurancetips.com%2Fhow-points-your-drivers-license-affect-your-auto-insurance-premiums&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-MillerStafford2009-22" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-MillerStafford2009_22-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation book" style="word-wrap: break-word;">Miller, Roger LeRoy and Stafford, Alan D. (16 January 2009). <a class="external text" href="http://books.google.com/books?id=KmsptGIoV2oC&pg=PA475" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;"><i>Economic Education for Consumers</i></a>. Cengage Learning. p. 475. <a href="http://en.wikipedia.org/wiki/International_Standard_Book_Number" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="International Standard Book Number">ISBN</a> <a href="http://en.wikipedia.org/wiki/Special:BookSources/978-0-538-44888-8" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Special:BookSources/978-0-538-44888-8">978-0-538-44888-8</a><span class="reference-accessdate">. Retrieved 6 September 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aulast=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.au=Miller%2C+Roger+LeRoy+and+Stafford%2C+Alan+D.&rft.btitle=Economic+Education+for+Consumers&rft.date=16+January+2009&rft.genre=book&rft_id=http%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DKmsptGIoV2oC%26pg%3DPA475&rft.isbn=978-0-538-44888-8&rft.pages=475&rft.pub=Cengage+Learning&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-23" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-23" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.centspermilenow.org/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Cents Per Mile Now"</a>. <i>centspermilenow.org</i><span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.atitle=Cents+Per+Mile+Now&rft.genre=article&rft_id=http%3A%2F%2Fwww.centspermilenow.org%2F&rft.jtitle=centspermilenow.org&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal"></span></span></li>
<li id="cite_note-24" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-24" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://info.insure.com/auto/progressive700.html" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Progressive's "pay-as-you-drive" auto insurance poised for wide rollout"</a>. insure.com<span class="reference-accessdate">. Retrieved 11 May 2006</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Progressive%27s+%22pay-as-you-drive%22+auto+insurance+poised+for+wide+rollout&rft.genre=book&rft_id=http%3A%2F%2Finfo.insure.com%2Fauto%2Fprogressive700.html&rft.pub=insure.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-SS-25" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink">^ <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-0" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>a</b></i></sup></a> <a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-SS_25-1" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;"><sup style="line-height: 1em;"><i><b>b</b></i></sup></a></span> <span class="reference-text"><a class="external text" href="http://www.progressive.com/snapshot/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">Snapshot, Snapshot Discount: Pay As You Drive® (PAYD) – Progressive</a>. Progressive.com.</span></li>
<li id="cite_note-26" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-26" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre24.shtm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Need Credit or Insurance? Your credit scores helps determine how much you will pay"</a>. ftc.gov<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Need+Credit+or+Insurance%3F+Your+credit+scores+helps+determine+how+much+you+will+pay&rft.genre=book&rft_id=http%3A%2F%2Fwww.ftc.gov%2Fbcp%2Fedu%2Fpubs%2Fconsumer%2Fcredit%2Fcre24.shtm&rft.pub=ftc.gov&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-27" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-27" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation web" style="word-wrap: break-word;"><a class="external text" href="http://web.archive.org/web/20091105010654/http://articles.moneycentral.msn.com/Insurance/InsureYourCar/bad-credit-worse-than-bad-driving.aspx" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Bad Credit worse than bad driving"</a>. Wall Street Journal. 11 February 2009<span class="reference-accessdate">. Retrieved 9 January 2010</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.btitle=Bad+Credit+worse+than+bad+driving&rft.date=11+February+2009&rft.genre=book&rft_id=http%3A%2F%2Fweb.archive.org%2Fweb%2F20091105010654%2Fhttp%3A%2F%2Farticles.moneycentral.msn.com%2FInsurance%2FInsureYourCar%2Fbad-credit-worse-than-bad-driving.aspx&rft.pub=Wall+Street+Journal&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
<li id="cite_note-28" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-28" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text">Davis, Harold (21 May 2009) <a class="external text" href="http://www.marketsandpatents.com/pdfs/stamford_advocate_sober_teen.pdf" rel="nofollow" style="background-image: url(http://upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif); background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 18px; text-decoration: none;">'Black Box' idea travels to cars</a>.</span></li>
<li id="cite_note-29" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-29" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.peertopatent.org/patent/20090063201/activity" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">US patent application 20090063201 "SoberTeen driving insurance"</a>. Peertopatent.org (20 May 2009).</span></li>
<li id="cite_note-30" style="margin-bottom: 0.1em;"><span class="mw-cite-backlink"><b><a href="http://en.wikipedia.org/wiki/Vehicle_insurance#cite_ref-30" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;">^</a></b></span> <span class="reference-text"><span class="citation news" style="word-wrap: break-word;">Lerner, Michele (20 September 2011). <a class="external text" href="http://www.foxbusiness.com/personal-finance/2011/09/20/auto-repair-insurance-pledges-to-pay-your-breakdown-bills/" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">"Auto repair insurance pledges to pay your breakdown bills"</a>. Fox Business<span class="reference-accessdate">. Retrieved 27 November 2011</span>.</span><span class="Z3988" title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVehicle+insurance&rft.aufirst=Michele&rft.aulast=Lerner&rft.au=Lerner%2C+Michele&rft.btitle=Auto+repair+insurance+pledges+to+pay+your+breakdown+bills&rft.date=20+September+2011&rft.genre=book&rft_id=http%3A%2F%2Fwww.foxbusiness.com%2Fpersonal-finance%2F2011%2F09%2F20%2Fauto-repair-insurance-pledges-to-pay-your-breakdown-bills%2F&rft.pub=Fox+Business&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook"></span></span></li>
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<li style="margin-bottom: 0.1em;"><a class="external text" href="http://www.howstuffworks.com/car-insurance.htm" rel="nofollow" style="background-image: url(data:image/png; background-position: 100% 50%; background-repeat: no-repeat no-repeat; color: #663366; padding-right: 13px; text-decoration: none;">How Car Insurance Works</a> at <a href="http://en.wikipedia.org/wiki/HowStuffWorks" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="HowStuffWorks">HowStuffWorks</a></li>
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<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Accidental_death_and_dismemberment_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Accidental death and dismemberment insurance">Accidental death and dismemberment insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Dental_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Dental insurance">Dental insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Disability insurance">Disability insurance</a> (<a href="http://en.wikipedia.org/wiki/Total_permanent_disability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Total permanent disability insurance">Total permanent disability insurance</a>)</li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Income_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Income protection insurance">Income protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Long-term_care_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Long-term care insurance">Long-term care insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/National_health_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="National health insurance">National health insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Payment_protection_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Payment protection insurance">Payment protection insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Vision_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Vision insurance">Vision insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
<a href="http://en.wikipedia.org/wiki/Life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Life insurance">Life</a></div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage life insurance">Mortgage life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Permanent_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Permanent life insurance">Permanent life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Term_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Term life insurance">Term life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Universal life insurance">Universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Variable_universal_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Variable universal life insurance">Variable universal life insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Whole_life_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Whole life insurance">Whole life insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Business</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Bond_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Bond insurance">Bond insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Directors and officers liability insurance">Directors and officers liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Fidelity_bond" style="background-image: none; color: #0b0080; text-decoration: none;" title="Fidelity bond">Fidelity bond</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Professional_liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Professional liability insurance">Professional liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Protection_and_indemnity_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Protection and indemnity insurance">Protection and indemnity insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Trade_credit_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Trade credit insurance">Trade credit insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Umbrella_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Umbrella insurance">Umbrella insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Residential</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Contents_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Contents insurance">Contents insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Earthquake insurance">Earthquake insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Flood insurance">Flood insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Home_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Home insurance">Home insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Landlords_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Landlords insurance">Landlords insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Lenders_mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Lenders mortgage insurance">Lenders mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Mortgage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Mortgage insurance">Mortgage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Property_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Property insurance">Property insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Renters_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Renters insurance">Renters insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Title_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Title insurance">Title insurance</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Transport/<br />Communication</div>
</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Aviation_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Aviation insurance">Aviation insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Computer_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Computer insurance">Computer insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Public_auto_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Public auto insurance">Public auto insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Marine_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Marine insurance">Marine insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Satellite_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Satellite insurance">Satellite insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Travel_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Travel insurance">Travel insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><strong class="selflink">Vehicle insurance</strong></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #e6e6ff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 0em; text-align: right; white-space: nowrap;"><div style="padding: 0em 0.75em;">
Other</div>
</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 851px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Reinsurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Reinsurance">Reinsurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Casualty_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Casualty insurance">Casualty insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crime_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crime insurance">Crime insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Crop_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Crop insurance">Crop insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Group_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Group insurance">Group insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Liability_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Liability insurance">Liability insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/No-fault_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="No-fault insurance">No-fault insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Pet_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Pet insurance">Pet insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Terrorism_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Terrorism insurance">Terrorism insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Wage_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Wage insurance">Wage insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Weather_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Weather insurance">Weather insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Workers%27_compensation" style="background-image: none; color: #0b0080; text-decoration: none;" title="Workers' compensation">Workers' compensation</a></li>
</ul>
</div>
</td></tr>
</tbody></table>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Insurance policy and law</th><td class="navbox-list navbox-even" style="background-color: #f7f7f7; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_policy" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance policy">Insurance policy</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Insurance_law" style="background-image: none; color: #0b0080; text-decoration: none;" title="Insurance law">Insurance law</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/Health_Insurance_Portability_and_Accountability_Act" style="background-image: none; color: #0b0080; text-decoration: none;" title="Health Insurance Portability and Accountability Act">Health Insurance Portability and Accountability Act</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><th class="navbox-group" scope="row" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: right; white-space: nowrap;">Other</th><td class="navbox-list navbox-odd" style="background-color: transparent; border-color: rgb(253, 253, 253); border-left-style: solid; border-left-width: 2px; line-height: 1.8em; padding: 0px; width: 957px;"><div style="padding: 0em 0.25em;">
<ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><a href="http://en.wikipedia.org/wiki/History_of_insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="History of insurance">History of insurance</a></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Unitised_assurance_fund" style="background-image: none; color: #0b0080; text-decoration: none;" title="Unitised assurance fund">Unitised assurance fund</a></li>
</ul>
</div>
</td></tr>
<tr style="height: 2px;"><td></td></tr>
<tr><td class="navbox-abovebelow" colspan="2" style="background-color: #ddddff; background-position: initial initial; background-repeat: initial initial; line-height: 1.5em; padding: 0.25em 1em; text-align: center;"><ul style="line-height: 1.5em; list-style-image: url(data:image/png; margin: 0px; padding: 0.125em 0px;">
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Category:Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Category:Insurance">Category</a></b></li>
<li style="display: inline; margin: 0px; white-space: nowrap;"><b><a href="http://en.wikipedia.org/wiki/Outline_of_finance#Insurance" style="background-image: none; color: #0b0080; text-decoration: none;" title="Outline of finance">List of topics</a></b></li>
</ul>
</td></tr>
</tbody></table>
</td></tr>
</tbody></table>
</div>
<div class="catlinks" id="catlinks" style="background-color: #f9f9f9; border: 1px solid rgb(170, 170, 170); clear: both; font-family: sans-serif; font-size: 13px; line-height: 19.1875px; margin-top: 1em; padding: 5px;">
<div class="mw-normal-catlinks" id="mw-normal-catlinks">
<a href="http://en.wikipedia.org/wiki/Help:Categories" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Help:Categories">Categories</a>: <ul style="display: inline; line-height: 1.5em; list-style: none none; margin: 0px; padding: 0px;">
<li style="border-left-style: none; display: inline-block; line-height: 1.25em; margin: 0.125em 0px; padding: 0px 0.5em 0px 0.25em; zoom: 1;"><a href="http://en.wikipedia.org/wiki/Category:Vehicle_insurance" style="background-image: none; background-position: initial initial; background-repeat: initial initial; color: #0b0080; text-decoration: none;" title="Category:Vehicle insurance">Vehicle insurance</a></li>
</ul>
</div>
</div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-87598398848840785802013-04-29T18:41:00.000-07:002013-04-29T18:41:07.443-07:00Prologue: What is Insurance?<br />
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<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free encyclopedia<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance</span></b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Risk_management" title="Risk management"><span style="color: #0b0080;">risk management</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">primarily used to</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Hedge_(finance)" title="Hedge (finance)"><span style="color: #0b0080;">hedge</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">against the risk of a contingent, uncertain loss.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Money" title="Money"><span style="color: #0b0080;">money</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">to be charged for a certain amount of insurance coverage is called the premium.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Risk_management" title="Risk management"><span style="color: #0b0080;">Risk management</span></a>, the practice of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Decision_model" title="Decision model"><span style="color: #0b0080;">appraising</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and controlling risk, has evolved as a discrete field of study and practice.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (<a href="http://en.wikipedia.org/wiki/Indemnify" title="Indemnify"><span style="color: #0b0080;">indemnify</span></a>) the insured in the case of a financial (personal) loss. The insured receives a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Contract" title="Contract"><span style="color: #0b0080;">contract</span></a>, called the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_policy" title="Insurance policy"><span style="color: #0b0080;">insurance policy</span></a>, which details the conditions and circumstances under which the insured will be financially compensated.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 14.5pt;">Principles</span><span lang="EN" style="font-size: 14.5pt;"><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;"><span lang="EN" style="font-size: 10pt; line-height: 14.4pt;"><br /></span><b style="line-height: 14.4pt;"><span lang="EN" style="font-size: 13pt;">Insurability</span></b></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurance involves</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Pooling_(resource_management)" title="Pooling (resource management)"><span style="color: #0b0080;">pooling</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">funds from</span><span lang="EN" style="font-size: 10pt;"> </span><i><span lang="EN" style="font-size: 10pt;">many</span></i><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">insured entities (known as exposures) to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurable_risk" title="Insurable risk"><span style="color: #0b0080;">insurable risk</span></a>. Insurance as a financial intermediary is a commercial enterprise and a major part of the financial services industry, but individual entities can also</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Self_insurance" title="Self insurance"><span style="color: #0b0080;">self-insure</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">through saving money for possible future losses.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-1"><span style="color: #0b0080;">[1]</span></a></sup><o:p></o:p></span></div>
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<i><span lang="EN" style="font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-size: 10pt;"> </span></i><i><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurability" title="Insurability"><span style="color: #0b0080;">Insurability</span></a><o:p></o:p></span></i></div>
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<span lang="EN" style="font-size: 10pt;">Risk which can be insured by private companies typically share seven common characteristics:<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-2"><span style="color: #0b0080;">[2]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">1.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Large number of similar exposure units</span></b><span lang="EN" style="font-size: 10pt;">: Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Law_of_large_numbers" title="Law of large numbers"><span style="color: #0b0080;">law of large numbers</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">in which predicted losses are similar to the actual losses. Exceptions include</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Lloyd%27s_of_London" title="Lloyd's of London"><span style="color: #0b0080;">Lloyd's of London</span></a>, which is famous for insuring the life or health of actors, sports figures and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">2.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Definite loss</span></b><span lang="EN" style="font-size: 10pt;">: The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy.</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Fire" title="Fire"><span style="color: #0b0080;">Fire</span></a>,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Traffic_collision" title="Traffic collision"><span style="color: #0b0080;">automobile accidents</span></a>, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory.</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Occupational_disease" title="Occupational disease"><span style="color: #0b0080;">Occupational disease</span></a>, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">3.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Accidental loss</span></b><span lang="EN" style="font-size: 10pt;">: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements, such as ordinary business risks or even purchasing a lottery ticket, are generally not considered insurable.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">4.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Large loss</span></b><span lang="EN" style="font-size: 10pt;">: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses, these latter costs may be several times the size of the expected cost of losses. There is hardly any point in paying such costs unless the protection offered has real value to a buyer.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">5.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Affordable premium</span></b><span lang="EN" style="font-size: 10pt;">: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, then it is not likely that the insurance will be purchased, even if on offer. Furthermore, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, then the transaction may have the form of insurance, but not the substance. (See the US</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Financial_Accounting_Standards_Board" title="Financial Accounting Standards Board"><span style="color: #0b0080;">Financial Accounting Standards Board</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/List_of_FASB_Pronouncements" title="List of FASB Pronouncements"><span style="color: #0b0080;">standard number 113</span></a>)<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">6.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Calculable loss</span></b><span lang="EN" style="font-size: 10pt;">: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">7.<span style="font-size: 7pt; line-height: normal;"> </span></span><b><span lang="EN" style="font-size: 10pt;">Limited risk of catastrophically large losses</span></b><span lang="EN" style="font-size: 10pt;">: Insurable losses are ideally</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Independence_(probability_theory)" title="Independence (probability theory)"><span style="color: #0b0080;">independent</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base.</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Capital_(economics)" title="Capital (economics)"><span style="color: #0b0080;">Capital</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">constrains insurers' ability to sell</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" title="Earthquake insurance"><span style="color: #0b0080;">earthquake insurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">as well as wind insurance in</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tropical_cyclone" title="Tropical cyclone"><span style="color: #0b0080;">hurricane</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">zones. In the US,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" title="Flood insurance"><span style="color: #0b0080;">flood risk</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">is insured by the federal government. In commercial fire insurance, it is possible to find single properties whose total exposed value is well in excess of any individual insurer's capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Reinsurance" title="Reinsurance"><span style="color: #0b0080;">reinsurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">market.<o:p></o:p></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Legal</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-size: 10pt;">When a company insures an individual entity, there are basic legal requirements. Several commonly cited legal principles of insurance include:<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-3"><span style="color: #0b0080;">[3]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">1.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Indemnity" title="Indemnity"><span style="color: #0b0080;">Indemnity</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">– the insurance company indemnifies, or compensates, the insured in the case of certain losses only up to the insured's interest.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">2.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurable_interest" title="Insurable interest"><span style="color: #0b0080;">Insurable interest</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">– the insured typically must directly suffer from the loss. Insurable interest must exist whether property insurance or insurance on a person is involved. The concept requires that the insured have a "stake" in the loss or damage to the life or property insured. What that "stake" is will be determined by the kind of insurance involved and the nature of the property ownership or relationship between the persons. The requirement of an insurable interest is what distinguishes insurance from</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Gambling" title="Gambling"><span style="color: #0b0080;">gambling</span></a>.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">3.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Implied_covenant_of_good_faith_and_fair_dealing" title="Implied covenant of good faith and fair dealing"><span style="color: #0b0080;">Utmost good faith</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">– (<a href="http://en.wikipedia.org/wiki/Uberrima_fides" title="Uberrima fides"><span style="color: #0b0080;">Uberrima fides</span></a>) the insured and the insurer are bound by a</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Good_faith" title="Good faith"><span style="color: #0b0080;">good faith</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">bond of honesty and fairness. Material facts must be disclosed.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">4.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">Contribution – insurers which have similar obligations to the insured contribute in the indemnification, according to some method.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">5.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">Subrogation – the insurance company acquires legal rights to pursue recoveries on behalf of the insured; for example, the insurer may sue those liable for insured's loss.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">6.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">Causa proxima, or proximate cause – the cause of loss (the peril) must be covered under the insuring agreement of the policy, and the dominant cause must not be</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Exclusion_clause" title="Exclusion clause"><span style="color: #0b0080;">excluded</span></a><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">7.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">Mitigation - In case of any loss or casualty, the asset owner must attempt to keep loss to a minimum, as if the asset was not insured.<o:p></o:p></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Indemnification</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<i><span lang="EN" style="font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-size: 10pt;"> </span></i><i><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Indemnity" title="Indemnity"><span style="color: #0b0080;">Indemnity</span></a><o:p></o:p></span></i></div>
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<span lang="EN" style="font-size: 10pt;">To "indemnify" means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Life_insurance" title="Life insurance"><span style="color: #0b0080;">life insurance</span></a>is generally not considered to be indemnity insurance, but rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified event). There are generally three types of insurance contracts that seek to indemnify an insured:<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">1.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">a "reimbursement" policy, and<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">2.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">a "pay on behalf" or "on behalf of"<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-KulpHall-4"><span style="color: #0b0080;">[4]</span></a></sup></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">policy, and<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">3.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">an "indemnification" policy.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">From an insured's standpoint, the result is usually the same: the insurer pays the loss and claims expenses.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">If the Insured has a "reimbursement" policy the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-KulpHall-4"><span style="color: #0b0080;">[4]</span></a><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-5"><span style="color: #0b0080;">[5]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Under a "pay on behalf" policy, the insurance carrier would defend and pay a claim on behalf of the insured who would not be out of pocket for anything. Most modern liability insurance is written on the basis of "pay on behalf" language which enables the insurance carrier to manage and control the claim.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Under an "indemnification" policy the insurance carrier can generally either "reimburse" or "pay on behalf of" whichever is more beneficial to it and the insured in the claim handling process.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">An entity seeking to transfer risk (an individual, corporation, or association of any type, etc.) becomes the 'insured' party once risk is assumed by an 'insurer', the insuring party, by means of a<a href="http://en.wikipedia.org/wiki/Contract" title="Contract"><span style="color: #0b0080;">contract</span></a>, called an</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_policy" title="Insurance policy"><span style="color: #0b0080;">insurance policy</span></a>. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss), and<a href="http://en.wikipedia.org/wiki/Exclusion_clause" title="Exclusion clause"><span style="color: #0b0080;">exclusions</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">(events not covered). An insured is thus said to be "<a href="http://en.wikipedia.org/wiki/Indemnity" title="Indemnity"><span style="color: #0b0080;">indemnified</span></a>" against the loss covered in the policy.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims — in theory for a relatively few claimants — and for</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Overhead_(business)" title="Overhead (business)"><span style="color: #0b0080;">overhead</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer's</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Profit_(accounting)" title="Profit (accounting)"><span style="color: #0b0080;">profit</span></a>.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 14.5pt;">Societal effects</span><span lang="EN" style="font-size: 14.5pt;"><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurance can have various effects on society through the way that it changes who bears the cost of losses and damage. On one hand it can increase fraud, on the other it can help societies and individuals prepare for catastrophes and mitigate the effects of catastrophes on both households and societies.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurance can influence the probability of losses through</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Moral_hazard" title="Moral hazard"><span style="color: #0b0080;">moral hazard</span></a>,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_fraud" title="Insurance fraud"><span style="color: #0b0080;">insurance fraud</span></a>, and preventive steps by the insurance company. Insurance scholars have typically used</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Morale_hazard" title="Morale hazard"><span style="color: #0b0080;">morale hazard</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">to refer to the increased loss due to unintentional carelessness and moral hazard to refer to increased risk due to intentional carelessness or indifference.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-6"><span style="color: #0b0080;">[6]</span></a></sup></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">Insurers attempt to address carelessness through inspections, policy provisions requiring certain types of maintenance, and possible discounts for loss mitigation efforts. While in theory insurers could encourage investment in loss reduction, some commentators have argued that in practice insurers had historically not aggressively pursued loss control measures - particularly to prevent disaster losses such as hurricanes - because of concerns over rate reductions and legal battles. However, since about 1996 insurers began to take a more active role in loss mitigation, such as through</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Building_code" title="Building code"><span style="color: #0b0080;">building codes</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-7"><span style="color: #0b0080;">[7]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 14.5pt;">Insurers' business model</span><span lang="EN" style="font-size: 14.5pt;"><o:p></o:p></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Underwriting and investing</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-size: 10pt;">The business model is to collect more in premium and investment income than is paid out in losses, and to also offer a competitive price which consumers will accept. Profit can be reduced to a simple equation:<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Profit =</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earned_premium" title="Earned premium"><span style="color: #0b0080;">earned premium</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">+ investment income - incurred loss - underwriting expenses.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurers make money in two ways:<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">1.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">Through</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Underwriting" title="Underwriting"><span style="color: #0b0080;">underwriting</span></a>, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks;<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">2.<span style="font-size: 7pt; line-height: normal;"> </span></span><span lang="EN" style="font-size: 10pt;">By</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Investing" title="Investing"><span style="color: #0b0080;">investing</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">the premiums they collect from insured parties.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">The most complicated aspect of the insurance business is the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Actuarial_science" title="Actuarial science"><span style="color: #0b0080;">actuarial science</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">of ratemaking (price-setting) of policies, which uses</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Statistics" title="Statistics"><span style="color: #0b0080;">statistics</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Probability" title="Probability"><span style="color: #0b0080;">probability</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">to approximate the rate of future claims based on a given risk. After producing rates, the insurer will use discretion to reject or accept risks through the underwriting process.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">At the most basic level, initial ratemaking involves looking at the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Frequency" title="Frequency"><span style="color: #0b0080;">frequency</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wiktionary.org/wiki/severity" title="wikt:severity"><span style="color: #663366;">severity</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">of insured perils and the expected average payout resulting from these perils. Thereafter an insurance company will collect historical loss data, bring the loss data to</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Present_value" title="Present value"><span style="color: #0b0080;">present value</span></a>, and compare these prior losses to the premium collected in order to assess rate adequacy.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-8"><span style="color: #0b0080;">[8]</span></a></sup></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Loss_ratio" title="Loss ratio"><span style="color: #0b0080;">Loss ratios</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and expense loads are also used. Rating for different risk characteristics involves at the most basic level comparing the losses with "loss relativities" - a policy with twice as many losses would therefore be charged twice as much. More complex</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Multivariate_analysis" title="Multivariate analysis"><span style="color: #0b0080;">multivariate analyses</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">are sometimes used when multiple characteristics are involved and a univariate analysis could produce confounded results. Other statistical methods may be used in assessing the probability of future losses.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Upon termination of a given policy, the amount of premium collected minus the amount paid out in claims is the insurer's</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Underwriting_profit" title="Underwriting profit"><span style="color: #0b0080;">underwriting profit</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">on that policy. Underwriting performance is measured by something called the "combined ratio"<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-9"><span style="color: #0b0080;">[9]</span></a></sup></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">which is the ratio of expenses/losses to premiums. A combined ratio of less than 100 percent indicates an underwriting profit, while anything over 100 indicates an underwriting loss. A company with a combined ratio over 100% may nevertheless remain profitable due to investment earnings.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurance companies earn</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Investment" title="Investment"><span style="color: #0b0080;">investment</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">profits on "float". Float, or available reserve, is the amount of money on hand at any given moment that an insurer has collected in insurance premiums but has not paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest or other income on them until claims are paid out. The<a href="http://en.wikipedia.org/wiki/Association_of_British_Insurers" title="Association of British Insurers"><span style="color: #0b0080;">Association of British Insurers</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">(gathering 400 insurance companies and 94% of UK insurance services) has almost 20% of the investments in the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/London_Stock_Exchange" title="London Stock Exchange"><span style="color: #0b0080;">London Stock Exchange</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-10"><span style="color: #0b0080;">[10]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">In the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_States" title="United States"><span style="color: #0b0080;">United States</span></a>, the underwriting loss of</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Property_insurance" title="Property insurance"><span style="color: #0b0080;">property</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Casualty_insurance" title="Casualty insurance"><span style="color: #0b0080;">casualty insurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">companies was $142.3 billion in the five years ending 2003. But overall profit for the same period was $68.4 billion, as the result of float. Some insurance industry insiders, most notably</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Maurice_R._Greenberg" title="Maurice R. Greenberg"><span style="color: #0b0080;">Hank Greenberg</span></a>, do not believe that it is forever possible to sustain a profit from float without an underwriting profit as well, but this opinion is not universally held.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Naturally, the float method is difficult to carry out in an</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Depression_(economics)" title="Depression (economics)"><span style="color: #0b0080;">economically depressed</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">period.</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Bear_market#Bear_market" title="Bear market"><span style="color: #0b0080;">Bear markets</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">do cause insurers to shift away from investments and to toughen up their underwriting standards, so a poor economy generally means high insurance premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known as the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_cycle" title="Insurance cycle"><span style="color: #0b0080;">underwriting, or insurance, cycle</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-11"><span style="color: #0b0080;">[11]</span></a></sup><o:p></o:p></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Claims</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-size: 10pt;">Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for. Claims may be filed by insureds directly with the insurer or through</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_broker" title="Insurance broker"><span style="color: #0b0080;">brokers or agents</span></a>. The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/ACORD" title="ACORD"><span style="color: #0b0080;">ACORD</span></a>.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Insurance company claims departments employ a large number of</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Claims_adjuster" title="Claims adjuster"><span style="color: #0b0080;">claims adjusters</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">supported by a staff of</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Records_management" title="Records management"><span style="color: #0b0080;">records management</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Data_entry_clerk" title="Data entry clerk"><span style="color: #0b0080;">data entry clerks</span></a>. Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience. The adjuster undertakes an investigation of each claim, usually in close cooperation with the insured, determines if coverage is available under the terms of the insurance contract, and if so, the reasonable monetary value of the claim, and authorizes payment.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">The policyholder may hire their own</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Public_adjuster" title="Public adjuster"><span style="color: #0b0080;">public adjuster</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">to negotiate the settlement with the insurance company on their behalf. For policies that are complicated, where claims may be complex, the insured may take out a separate insurance policy add on, called loss recovery insurance, which covers the cost of a public adjuster in the case of a claim.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">Adjusting liability insurance claims is particularly difficult because there is a third party involved, the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Plaintiff" title="Plaintiff"><span style="color: #0b0080;">plaintiff</span></a>, who is under no contractual obligation to cooperate with the insurer and may in fact regard the insurer as a</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Deep_pocket" title="Deep pocket"><span style="color: #0b0080;">deep pocket</span></a>. The adjuster must obtain legal counsel for the insured (either inside "house" counsel or outside "panel" counsel), monitor litigation that may take years to complete, and appear in person or over the telephone with settlement authority at a mandatory settlement conference when requested by the judge.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">If a claims adjuster suspects under-insurance, the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Condition_of_average" title="Condition of average"><span style="color: #0b0080;">condition of average</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">may come into play to limit the insurance company's exposure.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;">In managing the claims handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages. As part of this balancing act,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_fraud" title="Insurance fraud"><span style="color: #0b0080;">fraudulent insurance practices</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">are a major business risk that must be managed and overcome. Disputes between insurers and insureds over the validity of claims or claims handling practices occasionally escalate into litigation (see</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_bad_faith" title="Insurance bad faith"><span style="color: #0b0080;">insurance bad faith</span></a>).<o:p></o:p></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Marketing</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-size: 10pt;">Insurers will often use</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Agency_(law)" title="Agency (law)"><span style="color: #0b0080;">insurance agents</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">to initially market or underwrite their customers. Agents can be captive, meaning they write only for one company, or independent, meaning that they can issue policies from several companies. The existence and success of companies using insurance agents is likely due to improved and personalized service.<sup><span style="color: #0b0080;"><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-12">[12]</a></span></sup></span><br />
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<span lang="EN" style="font-size: 10pt;"><span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;">Insurance companies</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;"><o:p></o:p></span></span></div>
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<span lang="EN" style="font-size: 10pt;"><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance companies may be
classified into two groups:<o:p></o:p></span></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Life insurance companies, which sell life
insurance, annuities and pensions products.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Non-life, general, or property/casualty
insurance companies, which sell other types of insurance.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">General insurance companies
can be further divided into these sub categories.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Standard lines<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Excess lines<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In most countries, life and
non-life insurers are subject to different regulatory regimes and different</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tax" title="Tax"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">tax</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Accounting" title="Accounting"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">accounting</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">rules. The main reason for
the distinction between the two types of company is that life, annuity, and
pension business is very long-term in nature — coverage for life assurance or a
pension can cover risks over many</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Decade" title="Decade"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">decades</span></a>. By contrast, non-life insurance cover
usually covers a shorter period, such as one year.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In the United States,
standard line insurance companies are insurers that have received a license or
authorization from a state for the purpose of writing specific kinds of
insurance in that state, such as automobile insurance or homeowners' insurance.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">They are typically referred
to as "admitted" insurers. Generally, such an insurance company must
submit its rates and policy forms to the state's insurance regulator to receive
his or her prior approval, although whether an insurance company must receive
prior approval depends upon the kind of insurance being written. Standard line
insurance companies usually charge lower premiums than excess line insurers and
may sell directly to individual insureds. They are regulated by state laws,
which include restrictions on rates and forms, and which aim to protect
consumers and the public from unfair or abusive practices.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">These insurers also are
required to contribute to state guarantee funds, which are used to pay for
losses if an insurer becomes insolvent.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Excess line insurance
companies (also known as Excess and Surplus) typically insure risks not covered
by the standard lines insurance market, due to a variety of reasons (e.g., new
entity or an entity that does not have an adequate loss history, an entity with
unique risk characteristics, or an entity that has a loss history that does not
fit the underwriting requirements of the standard lines insurance market).<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">They are typically referred
to as non-admitted or unlicensed insurers.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Non-admitted insurers are
generally not licensed or authorized in the states in which they write
business, although they must be licensed or authorized in the state in which
they are domiciled.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">These companies have more
flexibility and can react faster than standard line insurance companies because
they are not required to file rates and forms.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">However, they still have
substantial regulatory requirements placed upon them.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Most states require that
excess line insurers submit financial information, articles of incorporation, a
list of officers, and other general information.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">They also may not write
insurance that is typically available in the admitted market, do not
participate in state guarantee funds (and therefore policyholders do not have
any recourse through these funds if an insurer becomes insolvent and cannot pay
claims), may pay higher taxes, only may write coverage for a risk if it has
been rejected by three different admitted insurers, and only when the insurance
producer placing the business has a surplus lines license.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Generally, when an excess
line insurer writes a policy, it must, pursuant to state laws, provide
disclosure to the policyholder that the policyholder's policy is being written
by an excess line insurer.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-AAMGA-27"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[27]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">On July 21, 2010, President</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Barack_Obama" title="Barack Obama"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Barack Obama</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">signed into law the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Nonadmitted_and_Reinsurance_Reform_Act_of_2010" title="Nonadmitted and Reinsurance Reform Act of 2010"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Nonadmitted and Reinsurance Reform Act of 2010</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">("NRRA"), which
took effect on July 21, 2011 and was part of the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Dodd-Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd-Frank Wall Street Reform and Consumer Protection Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Dodd-Frank Wall Street Reform
and Consumer Protection Act</span></a>. The NRRA changed the regulatory
paradigm for excess line insurance. Generally, under the NRRA, only the
insured's home state may regulate and tax the excess line transaction.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-28"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[28]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance companies are generally
classified as either</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Mutual_insurance" title="Mutual insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">mutual</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or proprietary companies.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-29"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[29]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Mutual companies are owned
by the policyholders, while shareholders (who may or may not own policies) own
proprietary insurance companies.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Demutualization" title="Demutualization"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Demutualization</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">of mutual insurers to form
stock companies, as well as the formation of a hybrid known as a mutual holding
company, became common in some countries, such as the United States, in the
late 20th century. However, not all states permit mutual holding companies.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Other possible forms for an
insurance company include</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Reciprocal_inter-insurance_exchange" title="Reciprocal inter-insurance exchange"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">reciprocals</span></a>, in which policyholders
reciprocate in sharing risks, and Lloyd's organizations.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance companies are
rated by various agencies such as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/A._M._Best" title="A. M. Best"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">A. M. Best</span></a>. The
ratings include the company's financial strength, which measures its ability to
pay claims. It also rates financial instruments issued by the insurance
company, such as bonds, notes, and securitization products.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Reinsurance" title="Reinsurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Reinsurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">companies are insurance
companies that sell policies to other insurance companies, allowing them to reduce
their risks and protect themselves from very large losses. The reinsurance
market is dominated by a few very large companies, with huge reserves. A
reinsurer may also be a direct writer of insurance risks as well.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Captive_insurance" title="Captive insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Captive insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">companies may be defined as
limited-purpose insurance companies established with the specific objective of
financing risks emanating from their parent group or groups. This definition
can sometimes be extended to include some of the risks of the parent company's
customers. In short, it is an in-house self-insurance vehicle. Captives may
take the form of a "pure" entity (which is a 100% subsidiary of the
self-insured parent company); of a "mutual" captive (which insures
the collective risks of members of an industry); and of an
"association" captive (which self-insures individual risks of the
members of a professional, commercial or industrial association). Captives
represent commercial, economic and tax advantages to their sponsors because of
the reductions in costs they help create and for the ease of insurance risk
management and the flexibility for cash flows they generate. Additionally, they
may provide coverage of risks which is neither available nor offered in the
traditional insurance market at reasonable prices.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The types of risk that a
captive can underwrite for their parents include property damage, public and
product liability, professional indemnity, employee benefits, employers' liability,
motor and medical aid expenses. The captive's exposure to such risks may be
limited by the use of reinsurance.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Captives are becoming an
increasingly important component of the risk management and risk financing
strategy of their parent. This can be understood against the following
background:<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">heavy and increasing premium costs in almost
every line of coverage;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">difficulties in insuring certain types of
fortuitous risk;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">differential coverage standards in various
parts of the world;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">rating structures which reflect market trends
rather than individual loss experience;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insufficient credit for deductibles and/or
loss control efforts.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">There are also companies
known as 'insurance consultants'. Like a mortgage broker, these companies are
paid a fee by the customer to shop around for the best insurance policy amongst
many companies. Similar to an insurance consultant, an 'insurance broker' also
shops around for the best insurance policy amongst many companies. However,
with insurance brokers, the fee is usually paid in the form of commission from
the insurer that is selected rather than directly from the client.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Neither insurance
consultants nor insurance brokers are insurance companies and no risks are
transferred to them in insurance transactions. Third party administrators are
companies that perform underwriting and sometimes claims handling services for
insurance companies. These companies often have special expertise that the
insurance companies do not have.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The financial stability and
strength of an insurance company should be a major consideration when buying an
insurance contract. An insurance premium paid currently provides coverage for
losses that might arise many years in the future. For that reason, the
viability of the insurance carrier is very important. In recent years, a number
of insurance companies have become insolvent, leaving their policyholders with
no coverage (or coverage only from a government-backed insurance pool or other
arrangement with less attractive payouts for losses). A number of independent
rating agencies provide information and rate the financial viability of
insurance companies.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;">Across
the world</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">Life insurance premiums
written in 2005<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in;">
<a href="http://en.wikipedia.org/wiki/File:2005nonlife_premia.PNG" title=""Enlarge" "><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 8.5pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_27"
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">Non-life insurance premiums
written in 2005<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Global insurance premiums
grew by 2.7% in inflation-adjusted terms in 2010 to $4.3 trillion, climbing
above pre-crisis levels. The return to growth and record premiums generated
during the year followed two years of decline in real terms. Life insurance
premiums increased by 3.2% in 2010 and non-life premiums by 2.1%. While
industrialised countries saw an increase in premiums of around 1.4%, insurance
markets in emerging economies saw rapid expansion with 11% growth in premium
income. The global insurance industry was sufficiently capitalised to withstand
the financial crisis of 2008 and 2009 and most insurance companies restored
their capital to pre-crisis levels by the end of 2010. With the continuation of
the gradual recovery of the global economy, it is likely the insurance industry
will continue to see growth in premium income both in industrialised countries
and emerging markets in 2011.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Advanced economies account for
the bulk of global insurance. With premium income of $1,620bn, Europe was the
most important region in 2010, followed by North America $1,409bn and Asia
$1,161bn. Europe has however seen a decline in premium income during the year
in contrast to the growth seen in North America and Asia. The top four
countries generated more than a half of premiums. The US and Japan alone
accounted for 40% of world insurance, much higher than their 7% share of the
global population. Emerging economies accounted for over 85% of the world’s
population but only around 15% of premiums. Their markets are however growing
at a quicker pace.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-30"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[30]</span></a></span></sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The country expected to
have the biggest impact on the insurance share distribution across the world is
China. According to</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Sam_Radwan" title="Sam Radwan"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Sam Radwan</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">of Enhance International,
low premium penetration (insurance premium as a % of GDP), an ageing
population and the largest car market in terms of new sales, premium growth has
averaged 15–20% in the past five years, and China is expected to be the largest
insurance market in the next decade or two.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-31"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[31]</span></a></sup><o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Regulatory
differences</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_law" title="Insurance law"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Insurance law</span></a><o:p></o:p></span></i></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In the United States,
insurance is regulated by the states under the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/McCarran-Ferguson_Act" title="McCarran-Ferguson Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">McCarran-Ferguson Act</span></a>, with "periodic proposals
for federal intervention", and a nonprofit coalition of state insurance
agencies called the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/National_Association_of_Insurance_Commissioners" title="National Association of Insurance Commissioners"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">National Association of Insurance Commissioners</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">works to harmonize the
country's different laws and regulations.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-32"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[32]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The National Conference of
Insurance Legislators (NCOIL) also works to harmonize the different state laws.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-33"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[33]</span></a></sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/European_Union" title="European Union"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">European Union</span></a>, the
Third Non-Life Directive and the Third Life Directive, both passed in 1992 and
effective 1994, created a single insurance market in Europe and allowed
insurance companies to offer insurance anywhere in the EU (subject to
permission from authority in the head office) and allowed insurance consumers
to purchase insurance from any insurer in the EU.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-34"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[34]</span></a></sup>As far as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">insurance in the United Kingdom</span></a>, the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Financial_Services_Authority" title="Financial Services Authority"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Financial Services Authority</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">took over insurance
regulation from the General Insurance Standards Council in 2005;<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-35"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[35]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">laws passed include the
Insurance Companies Act 1973 and another in 1982,<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-36"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[36]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and reforms to</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Warranty" title="Warranty"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">warranty</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and other aspects under
discussion as of 2012.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-37"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[37]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_industry_in_China" title="Insurance industry in China"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">insurance industry in China</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">was nationalized in 1949
and thereafter offered by only a single state-owned company, the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/People%27s_Insurance_Company_of_China" title="People's Insurance Company of China"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">People's Insurance Company of China</span></a>, which was
eventually suspended as demand declined in a communist environment. In 1978,
market reforms led to an increase in the market and by 1995 a comprehensive
Insurance Law of the People's Republic of China<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-38"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[38]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">was passed, followed in
1998 by the formation of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/China_Insurance_Regulatory_Commission" title="China Insurance Regulatory Commission"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">China Insurance Regulatory Commission</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(CIRC), which has broad
regulatory authority over the insurance market of China.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-39"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[39]</span></a></sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In India, IRDA is insurance
regulatory authority. As per the section 4 of IRDA Act' 1999, Insurance
Regulatory and Development Authority (IRDA), which was constituted by an act of
parliament. National Insurance Academy, Pune is apex insurance capacity builder
institute promoted with support from Ministry of Finance and by LIC, Life &
General Insurance companies.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;">Controversies</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;"><o:p></o:p></span></div>
</div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Insurance
insulates too much</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">An insurance company may
inadvertently find that its insureds may not be as risk-averse as they might
otherwise be (since, by definition, the insured has transferred the risk to the
insurer), a concept known as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Moral_hazard" title="Moral hazard"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">moral hazard</span></a>. To
reduce their own financial exposure, insurance companies have contractual
clauses that mitigate their obligation to provide coverage if the insured
engages in behavior that grossly magnifies their risk of loss or liability.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">For example, life insurance
companies may require higher premiums or deny coverage altogether to people who
work in hazardous occupations or engage in dangerous sports. Liability
insurance providers do not provide coverage for liability arising from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Intentional_tort" title="Intentional tort"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">intentional torts</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">committed by or at the
direction of the insured. Even if a provider were so irrational as to want to
provide such coverage, it is against the public policy of most countries to
allow such insurance to exist, and thus it is usually illegal.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup><o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Complexity of insurance
policy contracts</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<a href="http://en.wikipedia.org/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_28" o:spid="_x0000_i1026"
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<a href="http://en.wikipedia.org/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" title=""Enlarge" "><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 8.5pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_29"
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/9/11" title="9/11"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">9/11</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">was a major insurance loss,
but there were disputes over the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/World_Trade_Center" title="World Trade Center"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">World
Trade Center</span></a>'s insurance policy<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance policies can be
complex and some policyholders may not understand all the fees and coverages
included in a policy. As a result, people may buy policies on unfavorable
terms. In response to these issues, many countries have enacted detailed
statutory and regulatory regimes governing every aspect of the insurance
business, including minimum standards for policies and the ways in which they
may be</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Advertising" title="Advertising"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">advertised</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and sold.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">For example, most insurance
policies in the English language today have been carefully drafted in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Plain_English" title="Plain English"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">plain English</span></a>; the
industry learned the hard way that many courts will not enforce policies
against insureds when the judges themselves cannot understand what the policies
are saying. Typically, courts construe ambiguities in insurance policies
against the insurance company and in favor of coverage under the policy.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Many institutional
insurance purchasers buy insurance through an insurance broker. While on the
surface it appears the broker represents the buyer (not the insurance company),
and typically counsels the buyer on appropriate coverage and policy
limitations, in the vast majority of cases a broker's compensation comes in the
form of a commission as a percentage of the insurance premium, creating a
conflict of interest in that the broker's financial interest is tilted towards
encouraging an insured to purchase more insurance than might be necessary at a
higher price. A broker generally holds contracts with many insurers, thereby
allowing the broker to "shop" the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Market" title="Market"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">market</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">for the best rates and
coverage possible.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Insurance may also be
purchased through an agent. A tied agent, working exclusively with one insurer,
represents the insurance company from whom the policyholder buys (while a free
agent sales policies of various insurance companies). Just as there is a
potential conflict of interest with a broker, an agent has a different type of
conflict. Because agents work directly for the insurance company, if there is a
claim the agent may advise the client to the benefit of the insurance company.
Agents generally cannot offer as broad a range of selection compared to an
insurance broker.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">An independent insurance
consultant advises insureds on a fee-for-service retainer, similar to an
attorney, and thus offers completely independent advice, free of the financial
conflict of interest of brokers and/or agents. However, such a consultant must
still work through brokers and/or agents in order to secure coverage for their
clients.<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Limited
consumer benefits</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In United States,
economists and consumer advocates generally consider insurance to be worthwhile
for low-probability, catastrophic losses, but not for high-probability, small
losses. Because of this, consumers are advised to select high</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Deductible" title="Deductible"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">deductibles</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and to not insure losses
which would not cause a disruption in their life. However, consumers have shown
a tendency to prefer low deductibles and to prefer to insure relatively
high-probability, small losses over low-probability, perhaps due to not
understanding or ignoring the low-probability risk.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-Schindler1994-40"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[40]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">This is associated with
reduced purchasing of insurance against low-probability losses, and may result
in increased inefficiencies from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Moral_hazard" title="Moral hazard"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">moral hazard</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-Schindler1994-40"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[40]</span></a></sup><o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Redlining</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Redlining" title="Redlining"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Redlining</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is the practice of denying
insurance coverage in specific geographic areas, supposedly because of a high
likelihood of loss, while the alleged motivation is unlawful discrimination.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Racial_profiling" title="Racial profiling"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Racial profiling</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Redlining" title="Redlining"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">redlining</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">has a long history in the
property insurance industry in the United States. From a review of industry
underwriting and marketing materials, court documents, and research by
government agencies, industry and community groups, and academics, it is clear
that race has long affected and continues to affect the policies and practices
of the insurance industry.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-41"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[41]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In July, 2007, The Federal
Trade Commission (FTC) released a report presenting the results of a study
concerning credit-based</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_score" title="Insurance score"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">insurance scores</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">in automobile insurance.
The study found that these scores are effective predictors of risk. It also
showed that African-Americans and Hispanics are substantially overrepresented
in the lowest credit scores, and substantially underrepresented in the highest,
while Caucasians and Asians are more evenly spread across the scores. The
credit scores were also found to predict risk within each of the ethnic groups,
leading the FTC to conclude that the scoring models are not solely proxies for
redlining. The FTC indicated little data was available to evaluate benefit of
insurance scores to consumers.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FTC_Study-42"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[42]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The report was disputed by
representatives of the Consumer Federation of America, the National Fair
Housing Alliance, the National Consumer Law Center, and the Center for Economic
Justice, for relying on data provided by the insurance industry.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-43"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[43]</span></a></span></sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">All states have provisions
in their rate regulation laws or in their fair trade practice acts that
prohibit unfair discrimination, often called redlining, in setting rates and
making insurance available.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-44"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[44]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In determining premiums and
premium rate structures, insurers consider quantifiable factors, including
location,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Credit_score" title="Credit score"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">credit scores</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Gender" title="Gender"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">gender</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Profession" title="Profession"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">occupation</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Marital_status" title="Marital status"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">marital status</span></a>, and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Education" title="Education"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">education</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">level. However, the use of
such factors is often considered to be unfair or unlawfully</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Discriminatory" title="Discriminatory"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">discriminatory</span></a>, and
the reaction against this practice has in some instances led to political
disputes about the ways in which insurers determine premiums and regulatory
intervention to limit the factors used.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">An insurance underwriter's
job is to evaluate a given risk as to the likelihood that a loss will occur.
Any factor that causes a greater likelihood of loss should theoretically be
charged a higher rate. This basic principle of insurance must be followed if
insurance companies are to remain solvent.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Thus,
"discrimination" against (i.e., negative differential treatment of)
potential insureds in the risk evaluation and premium-setting process is a
necessary by-product of the fundamentals of insurance underwriting. For
instance, insurers charge older people significantly higher premiums than they charge
younger people for term life insurance. Older people are thus treated
differently than younger people (i.e., a distinction is made, discrimination
occurs). The rationale for the differential treatment goes to the heart of the
risk a life insurer takes: Old people are likely to die sooner than young
people, so the risk of loss (the insured's death) is greater in any given
period of time and therefore the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Risk_premium" title="Risk premium"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">risk premium</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">must be higher to cover the
greater risk. However, treating insureds differently when there is no
actuarially sound reason for doing so is unlawful discrimination.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">What is often missing from
the debate is that prohibiting the use of legitimate, actuarially sound factors
means that an insufficient amount is being charged for a given risk, and there
is thus a deficit in the system.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The failure to address the
deficit may mean insolvency and hardship for all of a company's insureds.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The options for addressing
the deficit seem to be the following: Charge the deficit to the other
policyholders or charge it to the government (i.e., externalize outside of the
company to society at large).<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup><o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Insurance
patents</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Further information:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance_patent" title="Insurance patent"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Insurance patent</span></a><o:p></o:p></span></i></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">New assurance products can
now be protected from copying with a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Business_method_patent" title="Business method patent"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">business method patent</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">in the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_States" title="United States"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">United States</span></a>.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">A recent example of a new
insurance product that is patented is</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Usage_based_insurance" title="Usage based insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Usage Based</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Auto_insurance" title="Auto insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">auto insurance</span></a>.
Early versions were independently invented and patented by a major US auto
insurance company,<a href="http://en.wikipedia.org/wiki/Progressive_Corporation" title="Progressive Corporation"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Progressive Auto Insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(<a href="http://www.google.com/patents?vid=5797134"><span style="color: #663366; mso-bidi-font-size: 11.0pt;">U.S. Patent 5,797,134</span></a>) and a Spanish
independent inventor, Salvador Minguijon Perez (</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://worldwide.espacenet.com/textdoc?DB=EPODOC&IDX=EP0700009"><span style="color: #663366;">EP 0700009</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">).<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Many independent inventors
are in favor of patenting new insurance products since it gives them protection
from big companies when they bring their new insurance products to market.
Independent inventors account for 70% of the new US patent applications in this
area.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Many insurance executives
are opposed to patenting insurance products because it creates a new risk for
them.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/The_Hartford" title="The Hartford"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">The Hartford</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance company, for
example, recently had to pay $80 million to an independent inventor, Bancorp
Services, in order to settle a patent infringement and theft of trade secret
lawsuit for a type of corporate owned life insurance product invented and
patented by Bancorp.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">There are currently about
150 new patent applications on insurance inventions filed per year in the
United States. The rate at which patents have been issued has steadily risen
from 15 in 2002 to 44 in 2006.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-45"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[45]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Inventors can now have
their insurance US patent applications reviewed by the public in the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Peer_to_Patent" title="Peer to Patent"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Peer to Patent</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">program.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-46"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[46]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The first insurance patent
application to be posted was</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://www.peertopatent.org/patent/20090055227/activity"><span style="color: #663366; mso-bidi-font-size: 11.0pt;">US2009005522 “Risk assessment
company”</span></a>. It was posted on March 6, 2009. This patent application
describes a method for increasing the ease of changing insurance companies.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-47"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[47]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">[<a href="http://en.wikipedia.org/w/index.php?title=Insurance&action=edit&section=34" title="Edit section: The insurance industry and rent-seeking"><span style="color: #0b0080;">edit</span></a>]</span><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">The insurance industry and
rent-seeking</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Certain insurance products
and practices have been described as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Rent-seeking" title="Rent-seeking"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">rent-seeking</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">by critics.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">That is, some insurance
products or practices are useful primarily because of legal benefits, such as
reducing taxes, as opposed to providing protection against risks of adverse
events. Under United States tax law, for example, most owners of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Annuity_(US_financial_products)" title="Annuity (US financial products)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">variable annuities</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Variable_universal_life_insurance" title="Variable universal life insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">variable life insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">can invest their premium
payments in the stock market and defer or eliminate paying any taxes on their
investments until withdrawals are made. Sometimes this tax deferral is the only
reason people use these products.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Another example is the
legal infrastructure which allows life insurance to be held in an irrevocable
trust which is used to pay an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Estate_tax" title="Estate tax"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">estate tax</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">while the proceeds
themselves are immune from the estate tax.<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Religious
concerns</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Muslim scholars have
varying opinions about life insurance. Life insurance policies that earn
interest (or guaranteed bonus/NAV) are generally considered to be a form of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Riba" title="Riba"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">riba</span></a></span></i><sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-48"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[48]</span></a></span></sup><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(<a href="http://en.wikipedia.org/wiki/Usury" title="Usury"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">usury</span></a>) and some consider even policies that do
not earn interest to be a form of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">gharar</span></i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(<a href="http://en.wikipedia.org/wiki/Speculation" title="Speculation"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">speculation</span></a>). Some
argue that</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">gharar</span></i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is not present due to the
actuarial science behind the underwriting.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-49"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[49]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Jewish rabbinical scholars
also have expressed reservations regarding insurance as an avoidance of God's
will but most find it acceptable in moderation.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-50"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[50]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Some Christians believe
insurance represents a lack of faith<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-51"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[51]</span></a>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">dead
link</span></a></i>]</sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and there is a long history
of resistance to commercial insurance in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Anabaptist" title="Anabaptist"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Anabaptist</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">communities (<a href="http://en.wikipedia.org/wiki/Mennonites" title="Mennonites"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Mennonites</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Amish" title="Amish"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Amish</span></a>,<a href="http://en.wikipedia.org/wiki/Hutterites" title="Hutterites"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Hutterites</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Brethren_in_Christ" title="Brethren in Christ"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Brethren
in Christ</span></a>) but many participate in community-based self-insurance
programs that spread risk within their communities.<o:p></o:p></span></div>
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<br />PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-368751557905551812013-04-29T18:38:00.001-07:002013-04-29T18:41:42.463-07:00Life Insurance<br />
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<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Life</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Life_insurance" title="Life insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Life insurance</span></a><o:p></o:p></span></i></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Life insurance provides a
monetary benefit to a decedent's family or other designated beneficiary, and
may specifically provide for income to an insured person's family, burial,
funeral and other final expenses. Life insurance policies often allow the
option of having the proceeds paid to the beneficiary either in a lump sum cash
payment or an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Annuity_(financial_contracts)" title="Annuity (financial contracts)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">annuity</span></a>. In most states, a person cannot purchase a
policy on another person without their knowledge.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Annuities provide a stream
of payments and are generally classified as insurance because they are issued
by insurance companies, are regulated as insurance, and require the same kinds
of actuarial and investment management expertise that life insurance requires.
Annuities and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Pension" title="Pension"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">pensions</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">that pay a benefit for life
are sometimes regarded as insurance against the possibility that a<a href="http://en.wikipedia.org/wiki/Retirement" title="Retirement"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">retiree</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">will outlive his or her
financial resources. In that sense, they are the complement of life insurance
and, from an underwriting perspective, are the mirror image of life insurance.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Certain life insurance
contracts accumulate</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Cash" title="Cash"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">cash</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">values, which may be taken
by the insured if the policy is surrendered or which may be borrowed against.
Some policies, such as annuities and<a href="http://en.wikipedia.org/wiki/Endowment_policy" title="Endowment policy"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">endowment policies</span></a>,
are financial instruments to accumulate or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Liquidation" title="Liquidation"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">liquidate</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Wealth" title="Wealth"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">wealth</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">when it is needed.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In many countries, such as
the US and the UK, the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tax_law" title="Tax law"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">tax law</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">provides that the interest
on this cash value is not taxable under certain circumstances. This leads to
widespread use of life insurance as a tax-efficient method of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Saving" title="Saving"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">saving</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">as well as protection in
the event of early death.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In the US, the tax on
interest income on life insurance policies and annuities is generally deferred.
However, in some cases the benefit derived from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tax_deferral" title="Tax deferral"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">tax deferral</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">may be offset by a low
return. This depends upon the insuring company, the type of policy and other
variables (mortality, market return, etc.). Moreover, other income tax saving
vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for
value accumulation.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-46734242969770804572013-04-29T18:38:00.000-07:002013-04-29T18:41:42.464-07:00Other Types<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Other
types</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l1 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">All-risk insurance is an insurance that
covers a wide range of incidents and perils, except those noted in the policy.
All-risk insurance is different from peril-specific insurance that cover losses
from only those perils listed in the policy.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-25"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[25]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Car_insurance" title="Car insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">car insurance</span></a>,
all-risk policy includes also the damages caused by the own driver.<o:p></o:p></span></div>
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<a href="http://en.wikipedia.org/wiki/File:2006GoodwoodBreedersCup.jpg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
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href="http://en.wikipedia.org/wiki/File:2006GoodwoodBreedersCup.jpg" style='width:165pt;
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">High-value horses may be
insured under a bloodstock policy<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Bloodstock insurance covers individual</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Horse" title="Horse"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">horses</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or a number of horses under
common ownership. Coverage is typically for mortality as a result of accident,
illness or disease but may extend to include infertility, in-transit loss,
veterinary fees, and prospective foal.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Business_interruption_insurance" title="Business interruption insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Business interruption insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">covers the loss of income,
and the expenses incurred, after a covered peril interrupts normal business
operations.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Collateral_protection_insurance" title="Collateral protection insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Collateral protection insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(CPI) insures property
(primarily vehicles) held as collateral for loans made by lending institutions.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Defense_Base_Act" title="Defense Base Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Defense Base Act</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(DBA) insurance provides
coverage for civilian workers hired by the government to perform contracts
outside the US and Canada. DBA is required for all US citizens, US residents,
US Green Card holders, and all employees or subcontractors hired on overseas
government contracts. Depending on the country, foreign nationals must also be
covered under DBA. This coverage typically includes expenses related to medical
treatment and loss of wages, as well as disability and death benefits.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Expatriate_insurance" title="Expatriate insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Expatriate
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">provides individuals and organizations
operating outside of their home country with protection for automobiles,
property, health, liability and business pursuits.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Kidnap_and_ransom_insurance" title="Kidnap and ransom insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Kidnap and ransom insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is designed to protect
individuals and corporations operating in high-risk areas around the world
against the perils of kidnap, extortion, wrongful detention and hijacking.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Legal_expenses_insurance" title="Legal expenses insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Legal expenses insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">covers policyholders for
the potential costs of legal action against an institution or an individual.
When something happens which triggers the need for legal action, it is known as
"the event". There are two main types of legal expenses insurance:</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Legal_expenses_insurance#Before_the_event_insurance" title="Legal expenses insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">before the event insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Legal_expenses_insurance#After_the_event_insurance" title="Legal expenses insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">after the event insurance</span></a>.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Livestock" title="Livestock"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Livestock</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance is a specialist
policy provided to, for example, commercial or hobby farms, aquariums, fish
farms or any other animal holding. Cover is available for mortality or economic
slaughter as a result of accident, illness or disease but can extend to include
destruction by government order.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Media liability insurance is designed to
cover professionals that engage in film and television production and print,
against risks such as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Defamation" title="Defamation"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">defamation</span></a>.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Nuclear incident insurance covers damages
resulting from an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Nuclear_and_radiation_accidents" title="Nuclear and radiation accidents"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">incident involving radioactive materials</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and is generally arranged
at the national level. (See the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Nuclear_exclusion_clause" title="Nuclear exclusion clause"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">nuclear exclusion clause</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and for the US the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Price-Anderson_Nuclear_Industries_Indemnity_Act" title="Price-Anderson Nuclear Industries Indemnity Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Price-Anderson Nuclear Industries Indemnity Act</span></a>.)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Pet_insurance" title="Pet insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Pet insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insures pets against
accidents and illnesses; some companies cover routine/wellness care and burial,
as well.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Pollution insurance usually takes the form of
first-party coverage for contamination of insured property either by external
or on-site sources. Coverage is also afforded for liability to third parties
arising from contamination of air, water, or land due to the sudden and
accidental release of hazardous materials from the insured site. The policy
usually covers the costs of cleanup and may include coverage for releases from
underground storage tanks. Intentional acts are specifically excluded.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Purchase insurance is aimed at providing
protection on the products people purchase. Purchase insurance can cover
individual purchase protection,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Warranties" title="Warranties"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">warranties</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Guarantees" title="Guarantees"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">guarantees</span></a>, care
plans and even mobile phone insurance. Such insurance is normally very limited
in the scope of problems that are covered by the policy.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Title_insurance" title="Title insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Title insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">provides a guarantee that
title to</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Real_property" title="Real property"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">real property</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is vested in the purchaser
and/or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Mortgage_law" title="Mortgage law"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">mortgagee</span></a>, free and
clear of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Lien" title="Lien"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">liens</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or encumbrances. It is
usually issued in conjunction with a search of the public records performed at
the time of a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Real_estate" title="Real estate"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">real estate</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">transaction.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Travel_insurance" title="Travel insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Travel insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is an insurance cover taken
by those who travel abroad, which covers certain losses such as medical
expenses, loss of personal belongings, travel delay, and personal liabilities.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tuition_insurance" title="Tuition insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Tuition insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insures students against
involuntary withdrawal from cost-intensive educational institutions<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Interest_rate_insurance" title="Interest rate insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Interest rate insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">protects the holder from
adverse changes in interest rates, for instance for those with a variable rate
loan or mortgage.<o:p></o:p></span><br />
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><br /></span>
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"></span><br />
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><span style="font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></span></div>
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">
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<b><span lang="EN" style="font-size: 13pt;">Insurance
financing vehicles</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;">Fraternal insurance is provided on a
cooperative basis by</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Benefit_society" title="Benefit society"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">fraternal benefit societies</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">or other social organizations.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-26"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[26]</span></a></sup><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/No-fault_insurance" title="No-fault insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">No-fault
insurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">is a type of insurance policy (typically
automobile insurance) where insureds are indemnified by their own insurer
regardless of fault in the incident.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;">Protected self-insurance is an alternative
risk financing mechanism in which an organization retains the mathematically
calculated cost of risk within the organization and transfers the catastrophic
risk with specific and aggregate limits to an insurer so the maximum total cost
of the program is known. A properly designed and underwritten Protected
Self-Insurance Program reduces and stabilizes the cost of insurance and provides
valuable risk management information.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;">Retrospectively rated insurance is a method
of establishing a premium on large commercial accounts. The final premium is
based on the insured's actual loss experience during the policy term, sometimes
subject to a minimum and maximum premium, with the final premium determined by
a formula. Under this plan, the current year's premium is based partially (or
wholly) on the current year's losses, although the premium adjustments may take
months or years beyond the current year's expiration date. The rating formula
is guaranteed in the insurance contract. Formula: retrospective premium =
converted loss + basic premium × tax multiplier. Numerous variations of this
formula have been developed and are in use.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;">Formal</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Self-insurance" title="Self-insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">self-insurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">is the deliberate decision
to pay for otherwise insurable losses out of one's own money.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">This can be done on a
formal basis by establishing a separate fund into which funds are deposited on
a periodic basis, or by simply forgoing the purchase of available insurance and
paying out-of-pocket. Self-insurance is usually used to pay for high-frequency,
low-severity losses. Such losses, if covered by conventional insurance, mean
having to pay a premium that includes loadings for the company's general
expenses, cost of putting the policy on the books, acquisition expenses,
premium taxes, and contingencies. While this is true for all insurance, for
small, frequent losses the transaction costs may exceed the benefit of
volatility reduction that insurance otherwise affords.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Reinsurance" title="Reinsurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Reinsurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">is a type of insurance
purchased by insurance companies or self-insured employers to protect against
unexpected losses.</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Financial_reinsurance" title="Financial reinsurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Financial reinsurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">is a form of reinsurance
that is primarily used for capital management rather than to transfer insurance
risk.<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_insurance" title="Social insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social insurance</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">can be many things to many
people in many countries. But a summary of its essence is that it is a
collection of insurance coverages (including components of life insurance,
disability income insurance, unemployment insurance, health insurance, and
others), plus retirement savings, that requires participation by all citizens.
By forcing everyone in society to be a policyholder and pay premiums, it
ensures that everyone can become a claimant when or if he/she needs to. Along
the way this inevitably becomes related to other concepts such as the justice
system and the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Welfare_state" title="Welfare state"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">welfare state</span></a>. This
is a large, complicated topic that engenders tremendous debate, which can be
further studied in the following articles (and others):<o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/National_Insurance" title="National Insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">National
Insurance</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_safety_net" title="Social safety net"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social safety net</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_security" title="Social security"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social security</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_Security_debate_(United_States)" title="Social Security debate (United States)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social Security debate (United States)</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_Security_(United_States)" title="Social Security (United States)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social Security (United States)</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Social_welfare_provision" title="Social welfare provision"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Social welfare provision</span></a><o:p></o:p></span></div>
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</span></span><!--[endif]--><span lang="EN" style="font-size: 10pt;">Stop-loss insurance provides protection
against catastrophic or unpredictable losses. It is purchased by organizations
who do not want to assume 100% of the liability for losses arising from the
plans. Under a stop-loss policy, the insurance company becomes liable for
losses that exceed certain limits called deductibles.<o:p></o:p></span></div>
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<span lang="EN" style="font-size: 10pt;"><br /></span></div>
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<b><span lang="EN" style="font-size: 13pt;">Closed
community self-insurance</span></b><b><span lang="EN" style="font-size: 13pt;"><o:p></o:p></span></b></div>
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<span lang="EN" style="font-size: 10pt;">Some communities prefer to
create virtual insurance amongst themselves by other means than contractual
risk transfer, which assigns explicit numerical values to risk. A number of</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Religion" title="Religion"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">religious</span></a>groups,
including the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Amish" title="Amish"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Amish</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">and some</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Muslim" title="Muslim"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Muslim</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">groups, depend on support
provided by their</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Community" title="Community"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">communities</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">when</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Disaster" title="Disaster"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">disasters</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">strike. The risk presented
by any given person is assumed collectively by the community who all bear the
cost of rebuilding lost property and supporting people whose needs are suddenly
greater after a loss of some kind. In supportive communities where others can
be trusted to follow community leaders, this tacit form of insurance can work.
In this manner the community can even out the extreme differences in
insurability that exist among its members. Some further justification is also
provided by invoking the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Moral_hazard" title="Moral hazard"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">moral hazard</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">of explicit insurance
contracts.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-size: 10pt;">In the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_Kingdom" title="United Kingdom"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">United Kingdom</span></a>,</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/The_Crown" title="The Crown"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">The Crown</span></a></span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;">(which, for practical
purposes, meant the</span><span lang="EN" style="font-size: 10pt;"> </span><span lang="EN" style="font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Civil_service" title="Civil service"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">civil service</span></a>) did
not insure property such as government buildings. If a government building was
damaged, the cost of repair would be met from public funds because, in the long
run, this was cheaper than paying insurance premiums. Since many UK government
buildings have been sold to property companies, and rented back, this
arrangement is now less common and may have disappeared altogether.<o:p></o:p></span></div>
</span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-60300982445491272522013-04-29T18:34:00.004-07:002013-04-29T18:41:42.467-07:00Payment Protection Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Credit</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Payment_protection_insurance" title="Payment protection insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Payment protection insurance</span></a><o:p></o:p></span></i></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Credit insurance repays
some or all of a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Loan" title="Loan"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">loan</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">when certain circumstances
arise to the borrower such as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Unemployment" title="Unemployment"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">unemployment</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Disability" title="Disability"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">disability</span></a>, or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Death" title="Death"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">death</span></a>.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Mortgage_insurance" title="Mortgage insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Mortgage
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insures the lender against default by the
borrower. Mortgage insurance is a form of credit insurance, although the name
"credit insurance" more often is used to refer to policies that cover
other kinds of debt.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Many credit cards offer payment protection
plans which are a form of credit insurance.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Trade_credit_insurance" title="Trade credit insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Trade credit insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is business insurance over
the accounts receivable of the insured. The policy pays the policy holder for
covered accounts receivable if the debtor defaults on payment.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-5346980732019417792013-04-29T18:34:00.002-07:002013-04-29T18:41:42.466-07:00Liability Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Liability</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Liability_insurance" title="Liability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Liability
insurance</span></a><o:p></o:p></span></i></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Liability insurance is a
very broad superset that covers legal claims against the insured. Many types of
insurance include an aspect of liability coverage. For example, a homeowner's
insurance policy will normally include liability coverage which protects the
insured in the event of a claim brought by someone who slips and falls on the
property; automobile insurance also includes an aspect of liability insurance
that indemnifies against the harm that a crashing car can cause to others'
lives, health, or property. The protection offered by a liability insurance
policy is twofold: a legal defense in the event of a lawsuit commenced against
the policyholder and indemnification (payment on behalf of the insured) with
respect to a settlement or court verdict. Liability policies typically cover
only the negligence of the insured, and will not apply to results of wilful or
intentional acts by the insured.<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">The</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">subprime mortgage crisis</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">was the source of many
liability insurance losses<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Public_liability" title="Public liability"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Public liability</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance covers a business
or organization against claims should its operations injure a member of the
public or damage their property in some way.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance" title="Directors and officers liability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Directors and officers liability insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(D&O) protects an
organization (usually a corporation) from costs associated with litigation
resulting from errors made by directors and officers for which they are liable.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Environmental liability insurance protects
the insured from bodily injury, property damage and cleanup costs as a result
of the dispersal, release or escape of pollutants.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Errors_and_omissions_insurance" title="Errors and omissions insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Errors and omissions insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(E&O) is business
liability insurance for professionals such as insurance agents, real estate
agents and brokers, architects, third-party administrators (TPAs) and other
business professionals.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Prize_indemnity_insurance" title="Prize indemnity insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Prize indemnity insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">protects the insured from
giving away a large prize at a specific event. Examples would include offering
prizes to contestants who can make a half-court shot at a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Basketball" title="Basketball"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">basketball</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">game, or a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Hole-in-one" title="Hole-in-one"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">hole-in-one</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">at a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Golf" title="Golf"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">golf</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">tournament.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Professional_liability_insurance" title="Professional liability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Professional liability insurance</span></a>, also called</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Professional_indemnity_insurance" title="Professional indemnity insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">professional indemnity insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(PI), protects insured
professionals such as architectural corporations and medical practitioners
against potential negligence claims made by their patients/clients.
Professional liability insurance may take on different names depending on the
profession. For example, professional liability insurance in reference to the
medical profession may be called</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Medical_malpractice" title="Medical malpractice"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">medical
malpractice</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-30891236994327453752013-04-29T18:33:00.001-07:002013-04-29T18:41:42.462-07:00Property Insurance<br />
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<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
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<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Property</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
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<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Property_insurance" title="Property insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Property
insurance</span></a><o:p></o:p></span></i></div>
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<a href="http://en.wikipedia.org/wiki/File:Tornado_Damage,_Illinois_2.JPG"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">This</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Tornado" title="Tornado"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">tornado</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">damage to an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Illinois" title="Illinois"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Illinois</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">home would be considered an
"<a href="http://en.wikipedia.org/wiki/Act_of_God" title="Act of God"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Act of God</span></a>" for
insurance purposes<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Property insurance provides
protection against risks to property, such as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Fire" title="Fire"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">fire</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Theft" title="Theft"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">theft</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Weather" title="Weather"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">weather</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">damage. This may include
specialized forms of insurance such as fire insurance,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" title="Flood insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">flood insurance</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" title="Earthquake insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">earthquake
insurance</span></a>,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Home_insurance" title="Home insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">home insurance</span></a>,
inland marine insurance or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Boiler_insurance" title="Boiler insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">boiler insurance</span></a>.
The term</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">property insurance</span></i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">may, like casualty
insurance, be used as a broad category of various subtypes of insurance, some
of which are listed below:<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/US_Airways_Flight_1549" title="US Airways Flight 1549"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">US Airways Flight 1549</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">was</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Write-off" title="Write-off"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">written off</span></a>after
ditching into the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Hudson_River" title="Hudson River"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Hudson River</span></a><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Aviation_insurance" title="Aviation insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Aviation
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">protects</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Aircraft" title="Aircraft"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">aircraft</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">hulls and spares, and
associated liability risks, such as passenger and third-party liability.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Airport" title="Airport"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Airports</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">may also appear under this
subcategory, including air traffic control and refuelling operations for
international airports through to smaller domestic exposures.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Boiler_insurance" title="Boiler insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Boiler insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(also known as boiler and
machinery insurance, or equipment breakdown insurance) insures against
accidental physical damage to boilers, equipment or machinery.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Builder%27s_risk_insurance" title="Builder's risk insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Builder's risk insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insures against the risk of
physical loss or damage to property during construction. Builder's risk
insurance is typically written on an "all risk" basis covering damage
arising from any cause (including the negligence of the insured) not otherwise expressly
excluded. Builder's risk insurance is coverage that protects a person's or
organization's insurable interest in materials, fixtures and/or equipment being
used in the construction or renovation of a building or structure should those
items sustain physical loss or damage from an insured peril.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-Adjusting_Today-22"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[22]</span></a></sup><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Crop_insurance" title="Crop insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Crop insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">may be purchased by farmers
to reduce or manage various risks associated with growing crops. Such risks
include crop loss or damage caused by weather, hail, drought, frost damage,
insects, or disease.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-23"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[23]</span></a></sup><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earthquake_insurance" title="Earthquake insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Earthquake
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is a form of property insurance that pays the
policyholder in the event of an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earthquake" title="Earthquake"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">earthquake</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">that causes damage to the
property. Most ordinary home insurance policies do not cover earthquake damage.
Earthquake insurance policies generally feature a high</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Deductible" title="Deductible"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">deductible</span></a>. Rates
depend on location and hence the likelihood of an earthquake, as well as the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Earthquake_engineering" title="Earthquake engineering"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">construction of the home</span></a>.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Fidelity_bond" title="Fidelity bond"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Fidelity bond</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is a form of casualty
insurance that covers policyholders for losses incurred as a result of
fraudulent acts by specified individuals. It usually insures a business for
losses caused by the dishonest acts of its employees.<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="background: #F9F9F9; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in; text-align: center;">
<a href="http://en.wikipedia.org/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_16" o:spid="_x0000_i1028"
type="#_x0000_t75" alt="http://upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/220px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg"
href="http://en.wikipedia.org/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg"
style='width:165pt;height:109.5pt;visibility:visible;mso-wrap-style:square'
o:button="t">
<v:imagedata src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image004.jpg"
o:title="220px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="http://upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/220px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" border="0" height="146" src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image004.jpg" v:shapes="Picture_x0020_16" width="220" /><!--[endif]--></span></a><span lang="EN" style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></div>
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<a href="http://en.wikipedia.org/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" title=""Enlarge" "><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 8.5pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_17"
o:spid="_x0000_i1027" type="#_x0000_t75" alt="http://bits.wikimedia.org/static-1.22wmf2/skins/common/images/magnify-clip.png"
href="http://en.wikipedia.org/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg"
title=""Enlarge"" style='width:11.25pt;height:8.25pt;visibility:visible;
mso-wrap-style:square' o:button="t">
<v:imagedata src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image002.gif"
o:title="magnify-clip"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="http://bits.wikimedia.org/static-1.22wmf2/skins/common/images/magnify-clip.png" border="0" height="11" src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image002.gif" v:shapes="Picture_x0020_17" width="15" /><!--[endif]--></span></a><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Hurricane_Katrina" title="Hurricane Katrina"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Hurricane Katrina</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">caused over $80 billion of
storm and flood damage<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Flood_insurance" title="Flood insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Flood insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">protects against property
loss due to flooding. Many insurers in the US do not provide flood insurance in
some parts of the country. In response to this, the federal government created
the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/National_Flood_Insurance_Program" title="National Flood Insurance Program"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">National Flood Insurance Program</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">which serves as the insurer
of last resort.<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Home_insurance" title="Home insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Home insurance</span></a>, also
commonly called hazard insurance or homeowners insurance (often abbreviated in
the real estate industry as HOI), provides coverage for damage or destruction
of the policyholder's home. In some geographical areas, the policy may exclude
certain types of risks, such as flood or earthquake, that require additional
coverage. Maintenance-related issues are typically the homeowner's
responsibility. The policy may include inventory, or this can be bought as a
separate policy, especially for people who rent housing. In some countries,
insurers offer a package which may include liability and legal responsibility
for injuries and property damage caused by members of the household, including
pets.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-24"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[24]</span></a></sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Landlord_insurance" title="Landlord insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Landlord
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">covers residential and commercial properties
which are rented to others. Most homeowners' insurance covers only
owner-occupied homes.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Marine_insurance" title="Marine insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Marine insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and marine cargo insurance
cover the loss or damage of vessels at sea or on inland waterways, and of cargo
in transit, regardless of the method of transit. When the owner of the cargo
and the carrier are separate corporations, marine cargo insurance typically
compensates the owner of cargo for losses sustained from fire, shipwreck, etc.,
but excludes losses that can be recovered from the carrier or the carrier's
insurance. Many marine insurance underwriters will include "time
element" coverage in such policies, which extends the indemnity to cover
loss of profit and other business expenses attributable to the delay caused by
a covered loss.<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Supplemental natural disaster insurance
covers specified expenses after a natural disaster renders the policyholder's
home uninhabitable. Periodic payments are made directly to the insured until
the home is rebuilt or a specified time period has elapsed.<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Surety_bond" title="Surety bond"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Surety bond</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance is a three-party
insurance guaranteeing the performance of the principal.<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="background: #F9F9F9; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in; text-align: center;">
<a href="http://en.wikipedia.org/wiki/File:WTC_smoking_on_9-11.jpeg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_18" o:spid="_x0000_i1026"
type="#_x0000_t75" alt="http://upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/220px-WTC_smoking_on_9-11.jpeg"
href="http://en.wikipedia.org/wiki/File:WTC_smoking_on_9-11.jpeg" style='width:165pt;
height:123.75pt;visibility:visible;mso-wrap-style:square' o:button="t">
<v:imagedata src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image005.jpg"
o:title="220px-WTC_smoking_on_9-11"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="http://upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/220px-WTC_smoking_on_9-11.jpeg" border="0" height="165" src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image005.jpg" v:shapes="Picture_x0020_18" width="220" /><!--[endif]--></span></a><span lang="EN" style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in;">
<a href="http://en.wikipedia.org/wiki/File:WTC_smoking_on_9-11.jpeg" title=""Enlarge" "><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 8.5pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_19"
o:spid="_x0000_i1025" type="#_x0000_t75" alt="http://bits.wikimedia.org/static-1.22wmf2/skins/common/images/magnify-clip.png"
href="http://en.wikipedia.org/wiki/File:WTC_smoking_on_9-11.jpeg" title=""Enlarge""
style='width:11.25pt;height:8.25pt;visibility:visible;mso-wrap-style:square'
o:button="t">
<v:imagedata src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image002.gif"
o:title="magnify-clip"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="http://bits.wikimedia.org/static-1.22wmf2/skins/common/images/magnify-clip.png" border="0" height="11" src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image002.gif" v:shapes="Picture_x0020_19" width="15" /><!--[endif]--></span></a><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">The demand for terrorism
insurance surged after</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/9/11" title="9/11"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">9/11</span></a><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Terrorism_insurance" title="Terrorism insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Terrorism
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">provides protection against any loss or
damage caused by</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Terrorism" title="Terrorism"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">terrorist</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">activities. In the US in
the wake of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/9/11" title="9/11"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">9/11</span></a>,
the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Terrorism_Risk_Insurance_Act" title="Terrorism Risk Insurance Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Terrorism Risk Insurance Act</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">2002 (TRIA) set up a
federal Program providing a transparent system of shared public and private
compensation for insured losses resulting from acts of terrorism. The program
was extended until the end of 2014 by the Terrorism Risk Insurance Program
Reauthorization Act 2007 (TRIPRA).<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Volcano insurance is a specialized insurance
protecting against damage arising specifically from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Volcano" title="Volcano"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">volcanic eruptions</span></a>.<o:p></o:p></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 18pt; margin-bottom: 1.2pt; margin-left: 38.4pt; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Windstorm insurance is an insurance covering
the damage that can be caused by wind events such as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Tropical_cyclone" title="Tropical cyclone"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">hurricanes</span></a>.<o:p></o:p></span></div>
<br />
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-75041047852858153382013-04-29T18:31:00.001-07:002013-04-29T18:41:36.168-07:00Casualty Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<span style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Casualty</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Casualty_insurance" title="Casualty insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Casualty
insurance</span></a><o:p></o:p></span></i></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Casualty insurance insures
against accidents, not necessarily tied to any specific property. It is a broad
spectrum of insurance that a number of other types of insurance could be
classified, such as auto, workers compensation, and some liability insurances.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Crime_insurance" title="Crime insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Crime insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is a form of casualty
insurance that covers the policyholder against losses arising from the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Criminal_act" title="Criminal act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">criminal acts</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">of third parties. For
example, a company can obtain crime insurance to cover losses arising from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Theft" title="Theft"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">theft</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Embezzlement" title="Embezzlement"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">embezzlement</span></a>.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Political_risk_insurance" title="Political risk insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Political risk insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">is a form of casualty
insurance that can be taken out by businesses with operations in countries in
which there is a risk that</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Revolution" title="Revolution"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">revolution</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">or other</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Politics" title="Politics"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">political</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">conditions could result in
a loss.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-23039596210745421642013-04-29T18:30:00.004-07:002013-04-29T18:41:36.160-07:00Accident, Sickness and Unemployment Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Accident,
sickness and unemployment insurance</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="background: #F9F9F9; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in; text-align: center;">
<a href="http://en.wikipedia.org/wiki/File:Pipe_installation_2.jpg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
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<div class="MsoNormal" style="background: #F9F9F9; line-height: 16.8pt; margin-left: .5in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">Workers' compensation, or
employers' liability insurance, is compulsory in some countries<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Disability_insurance" title="Disability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Disability
insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">policies provide financial support in the
event of the policyholder becoming unable to work because of disabling illness
or injury. It provides monthly support to help pay such obligations as</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Mortgage_loan" title="Mortgage loan"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">mortgage loans</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Credit_card" title="Credit card"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">credit cards</span></a>.
Short-term and long-term disability policies are available to individuals, but
considering the expense, long-term policies are generally obtained only by
those with at least six-figure incomes, such as doctors, lawyers, etc.
Short-term disability insurance covers a person for a period typically up to
six months, paying a stipend each month to cover medical bills and other
necessities.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Long-term disability insurance covers an
individual's expenses for the long term, up until such time as they are
considered permanently disabled and thereafter. Insurance companies will often
try to encourage the person back into employment in preference to and before
declaring them unable to work at all and therefore totally disabled.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Business_overhead_expense_disability_insurance" title="Business overhead expense disability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Disability overhead insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">allows business owners to
cover the overhead expenses of their business while they are unable to work.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: 38.4pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Symbol; font-size: 10pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Total_permanent_disability_insurance" title="Total permanent disability insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Total permanent disability insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">provides benefits when a
person is permanently disabled and can no longer work in their profession,
often taken as an adjunct to life insurance.<o:p></o:p></span></div>
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;"><a href="http://en.wikipedia.org/wiki/Workers%27_compensation" title="Workers' compensation"><span style="color: #0b0080; line-height: 115%; mso-bidi-font-size: 11.0pt;">Workers' compensation</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;">insurance replaces all or part of a worker's</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;"><a href="http://en.wikipedia.org/wiki/Wage" title="Wage"><span style="color: #0b0080; line-height: 115%; mso-bidi-font-size: 11.0pt;">wages</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 115%;">lost and accompanying medical
expenses incurred because of a job-related injury.</span>PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-51738518657923383192013-04-29T18:30:00.000-07:002013-04-29T18:41:36.161-07:00Health Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Health
insurance</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main articles:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Health_insurance" title="Health insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Health insurance</span></a></span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Dental_insurance" title="Dental insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Dental insurance</span></a><o:p></o:p></span></i></div>
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<a href="http://en.wikipedia.org/wiki/File:Great_western_hospital.JPG"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">Great Western Hospital,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Swindon" title="Swindon"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Swindon</span></a><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Health insurance policies
cover the cost of medical treatments. Dental insurance, like medical insurance
protects policyholders for dental costs. In the US and Canada, dental insurance
is often part of an employer's benefits package, along with health insurance.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-53957728441965122242013-04-29T18:29:00.001-07:002013-04-29T18:41:36.163-07:00Gap Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 4;">
<b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 11.5pt;">Gap
insurance</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 11.5pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Gap_insurance" title="Gap insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Gap insurance</span></a><o:p></o:p></span></i></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Gap insurance covers the
excess amount on your auto loan in an instance where your insurance company
does not cover the entire loan. Depending on the companies specific policies it
might or might not cover the deductible as well. This coverage is marketed for
those who put low</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Down_payment" title="Down payment"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">down payments</span></a>, have
high interest rates on their loans, and those with 60 month or longer terms.
Gap insurance is typically offered by your finance company when you first
purchase your vehicle. Most auto insurance companies offer this coverage to
consumers as well. If you are unsure if GAP coverage had been purchased, you
should check your vehicle lease or purchase documentation.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-67222910455120752662013-04-29T18:28:00.003-07:002013-04-29T18:41:36.166-07:00Auto Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .05in; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in; mso-outline-level: 3;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;">Auto
insurance</span></b><b><span lang="EN" style="font-family: Arial, sans-serif; font-size: 13pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance" title="Vehicle insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Vehicle insurance</span></a><o:p></o:p></span></i></div>
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<a href="http://en.wikipedia.org/wiki/File:Car_crash_1.jpg"><span style="color: #0b0080; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
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</v:shape><![endif]--><!--[if !vml]--><img alt="http://bits.wikimedia.org/static-1.22wmf2/skins/common/images/magnify-clip.png" border="0" height="11" src="file:///D:\Users\YOGA~1.ALV\AppData\Local\Temp\msohtmlclip1\01\clip_image002.gif" v:shapes="Picture_x0020_7" width="15" /><!--[endif]--></span></a><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">A wrecked vehicle in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Copenhagen" title="Copenhagen"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Copenhagen</span></a><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Auto insurance protects the
policyholder against financial loss in the event of an incident involving a
vehicle they own, such as in a</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Traffic_collision" title="Traffic collision"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">traffic collision</span></a>.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Coverage typically
includes:<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Property coverage, for
damage to or theft of the car;<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: .8in; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Liability coverage, for the
legal responsibility to others for bodily injury or property damage;<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 1.2pt; margin-left: .8in; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<!--[if !supportLists]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"> </span></span><!--[endif]--><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Medical coverage, for the
cost of treating injuries, rehabilitation and sometimes lost wages and funeral
expenses.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Most countries, such as the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_Kingdom" title="United Kingdom"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">United Kingdom</span></a>,
require drivers to buy some, but not all, of these coverages. When a car is
used as collateral for a loan the lender usually requires specific coverage.<o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-54738846749789394412013-04-29T18:27:00.003-07:002013-04-29T18:41:26.240-07:00Types of Insurance<br />
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<div style="background: white; border-bottom: solid #AAAAAA 1.0pt; border: none; margin-left: 19.2pt; margin-right: 0in; mso-border-bottom-alt: solid #AAAAAA .75pt; mso-element: para-border-div; padding: 0in 0in 2.0pt 0in;">
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;">Types of insurance</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;"><o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Any risk that can be
quantified can potentially be insured. Specific kinds of risk that may give
rise to claims are known as perils. An insurance policy will set out in detail
which perils are covered by the policy and which are not. Below are
non-exhaustive lists of the many different types of insurance that exist. A
single policy may cover risks in one or more of the categories set out below.
For example,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Vehicle_insurance" title="Vehicle insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">vehicle insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">would typically cover both
the property risk (theft or damage to the vehicle) and the liability risk
(legal claims arising from an</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Traffic_collision" title="Traffic collision"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">accident</span></a>). A</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Home_insurance" title="Home insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">home insurance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">policy in the US typically
includes coverage for damage to the home and the owner's belongings, certain
legal claims against the owner, and even a small amount of coverage for medical
expenses of guests who are injured on the owner's property.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Business" title="Business"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Business</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance can take a number
of different forms, such as the various kinds of professional liability
insurance, also called professional indemnity (PI), which are discussed below
under that name; and the business owner's policy (BOP), which packages into one
policy many of the kinds of coverage that a business owner needs, in a way
analogous to how homeowners' insurance packages the coverages that a homeowner
needs.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-21"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[21]</span></a></sup><o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0tag:blogger.com,1999:blog-6379626705582745506.post-82046572745862048592013-04-29T18:26:00.001-07:002013-04-29T18:41:26.241-07:00History of Insurance<br />
<div style="background: white; border-bottom: solid #AAAAAA 1.0pt; border: none; margin-left: 19.2pt; margin-right: 0in; mso-border-bottom-alt: solid #AAAAAA .75pt; mso-element: para-border-div; padding: 0in 0in 2.0pt 0in;">
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; border: none; margin-bottom: 0.1in; padding: 0in;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 14.5pt;"></span></div>
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; line-height: 14.4pt; margin-bottom: 0.0001pt;">
<span style="font-size: 9pt;">From Wikipedia, the free
encyclopedia<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="background-position: initial initial; background-repeat: initial initial; border: none; margin-bottom: 0.1in; padding: 0in;">
<span style="font-family: Arial, sans-serif; font-size: 14.5pt;">History of insurance</span></div>
</div>
<div class="MsoNormal" style="background: white; line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 0in;">
<i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Main article:</span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span></i><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/History_of_insurance" title="History of insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">History
of insurance</span></a><o:p></o:p></span></i></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In some sense we can say
that insurance appears simultaneously with the appearance of human society. We
know of two types of economies in human societies: natural or non-monetary
economies (using barter and trade with no centralized nor standardized set of
financial instruments) and more modern monetary economies (with markets,
currency, financial instruments and so on). The former is more primitive and
the insurance in such economies entails agreements of mutual aid. If one
family's house is destroyed the neighbours are committed to help rebuild.
Granaries housed another primitive form of insurance to indemnify against
famines. Often informal or formally intrinsic to local religious customs, this
type of insurance has survived to the present day in some countries where a
modern money economy with its financial instruments is not widespread.<sup>[<i><a href="http://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">citation needed</span></a></i>]</sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Turning to insurance in the
modern sense (i.e., insurance in a modern money economy, in which insurance is
part of the financial sphere), early methods of transferring or distributing
risk were practiced by</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/China" title="China"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Chinese</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Babylonia" title="Babylonia"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Babylonian</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">traders as long ago as the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/3rd_millennium_BC" title="3rd millennium BC"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">3rd</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/2nd_millennium_BC" title="2nd millennium BC"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">2nd</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Millennium" title="Millennium"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">millennia</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">BC, respectively.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-13"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[13]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Chinese merchants
travelling treacherous river rapids would redistribute their wares across many
vessels to limit the loss due to any single vessel's capsizing. The Babylonians
developed a system which was recorded in the famous</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Code_of_Hammurabi" title="Code of Hammurabi"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Code of Hammurabi</span></a>,
c. 1750 BC, and practiced by early</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Mediterranean" title="Mediterranean"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Mediterranean</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">sailing</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Merchant" title="Merchant"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">merchants</span></a>. If a
merchant received a loan to fund his shipment, he would pay the lender an
additional sum in exchange for the lender's guarantee to cancel the loan should
the shipment be stolen or lost at sea.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Achaemenian" title="Achaemenian"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Achaemenian</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">monarchs of Ancient Persia
were the first to insure their people and made it official by registering the
insuring process in governmental notary offices. The insurance tradition was
performed each year in Norouz (beginning of the Iranian New Year); the heads of
different ethnic groups as well as others willing to take part, presented gifts
to the monarch. The most important gift was presented during a special
ceremony. When a gift was worth more than 10,000 Derrik (Achaemenian gold coin)
the issue was registered in a special office. This was advantageous to those
who presented such special gifts. For others, the presents were fairly assessed
by the confidants of the court. Then the assessment was registered in special
offices.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;">The subscription room at
Lloyd's of London in the early 19th century.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The purpose of registering
was that whenever the person who presented the gift registered by the court was
in trouble, the monarch and the court would help him. Jahez, a historian and
writer, writes in one of his books on</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Ancient_Iran" title="Ancient Iran"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">ancient Iran</span></a>:
"[W]henever the owner of the present is in trouble or wants to construct a
building, set up a feast, have his children married, etc. the one in charge of
this in the court would check the registration. If the registered amount
exceeded 10,000 Derrik, he or she would receive an amount of twice as
much."<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-14"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[14]</span></a></sup><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">A thousand years later, the
inhabitants of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Rhodes" title="Rhodes"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Rhodes</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">invented the concept of the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/General_average" title="General average"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">general average</span></a></span></i><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">. Merchants whose goods
were being shipped together would pay a proportionally divided premium which
would be used to reimburse any merchant whose goods were deliberately
jettisoned in order to lighten the ship and save it from</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Total_loss" title="Total loss"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">total loss</span></a>.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 18.0pt; margin-bottom: 6.0pt; margin-left: 19.2pt; margin-right: 0in; margin-top: 4.8pt;">
<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Classical_Athens" title="Classical Athens"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">ancient Athenian</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">"maritime loan"
advanced money for voyages with repayment being cancelled if the ship was lost.
In the 4th century BC, rates for the loans differed according to safe or
dangerous times of year, implying an intuitive pricing of risk with an effect
similar to insurance.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-15"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[15]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Ancient_Greece" title="Ancient Greece"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Greeks</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and<a href="http://en.wikipedia.org/wiki/Ancient_Rome" title="Ancient Rome"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Romans</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">introduced the origins of
health and life insurance c. 600 BCE when they created guilds called
"benevolent societies" which cared for the<a href="http://en.wikipedia.org/wiki/Family" title="Family"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">families</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">of deceased members, as
well as paying</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Funeral" title="Funeral"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">funeral</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">expenses of members.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Guild" title="Guild"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Guilds</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">in the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Middle_Ages" title="Middle Ages"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Middle Ages</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">served a similar purpose.
The</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Talmud" title="Talmud"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Talmud</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">deals with several aspects
of insuring</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Good_(economics)" title="Good (economics)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">goods</span></a>. Before
insurance was established in the late 17th century, "friendly
societies" existed in England, in which people donated amounts of money to
a general sum that could be used for emergencies.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Separate insurance
contracts (i.e., insurance policies not bundled with loans or other kinds of
contracts) were invented in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Genoa" title="Genoa"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Genoa</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">in the 14th century, as
were insurance pools backed by pledges of landed estates. These new insurance
contracts allowed insurance to be separated from investment, a separation of
roles that first proved useful in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Marine_insurance" title="Marine insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">marine insurance</span></a>.
Insurance became far more sophisticated in post-<a href="http://en.wikipedia.org/wiki/Renaissance" title="Renaissance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Renaissance</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Europe" title="Europe"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Europe</span></a>, and specialized varieties developed.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 8.5pt;"><a href="http://en.wikipedia.org/wiki/Lloyd%27s_of_London" title="Lloyd's of London"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Lloyd's
of London</span></a>, pictured in 1991, is one of the world's leading and most
famous insurance markets<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Some forms of insurance had
developed in</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/London" title="London"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">London</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">by the early decades of the
17th century. For example, the will of the English colonist</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Robert_Hayman" title="Robert Hayman"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Robert Hayman</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">mentions two "policies
of insurance" taken out with the diocesan Chancellor of London, Arthur
Duck. Of the value of £100 each, one relates to the safe arrival of Hayman's
ship in Guyana and the other is in regard to "one hundred pounds assured
by the said Doctor Arthur Ducke on my life". Hayman's will was signed and
sealed on 17 November 1628 but not proved until 1633.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-16"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[16]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Toward the end of the
seventeenth century, London's growing importance as a centre for trade
increased demand for marine insurance. In the late 1680s,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Edward_Lloyd_(coffeehouse_owner)" title="Edward Lloyd (coffeehouse owner)"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Edward Lloyd</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">opened a coffee house that
became a popular haunt of ship owners, merchants, and ships' captains, and
thereby a reliable source of the latest shipping news. It became the meeting
place for parties wishing to insure cargoes and ships, and those willing to
underwrite such ventures. Today,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Lloyd%27s_of_London" title="Lloyd's of London"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Lloyd's
of London</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">remains the leading market (note that it is
an insurance market rather than a company) for marine and other specialist
types of insurance, but it operates rather differently than the more familiar
kinds of insurance. Insurance as we know it today can be traced to the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Great_Fire_of_London" title="Great Fire of London"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Great
Fire of London</span></a>, which in 1666 devoured more than 13,000 houses. The
devastating effects of the fire converted the development of insurance
"from a matter of convenience into one of urgency, a change of opinion
reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance
Office' in his new plan for London in 1667."<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-17"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[17]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">A number of attempted fire
insurance schemes came to nothing, but in 1681</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Nicholas_Barbon" title="Nicholas Barbon"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Nicholas Barbon</span></a>, and
eleven associates, established England's first fire insurance company, the
'Insurance Office for Houses', at the back of the Royal Exchange. Initially,
5,000 homes were insured by Barbon's Insurance Office.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-18"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[18]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The first insurance company
in the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_States" title="United States"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">United States</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">underwrote fire insurance
and was formed in Charles Town (modern-day</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Charleston,_South_Carolina" title="Charleston, South Carolina"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Charleston</span></a>),</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/South_Carolina" title="South Carolina"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">South Carolina</span></a>, in
1732.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Benjamin_Franklin" title="Benjamin Franklin"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Benjamin Franklin</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">helped to popularize and
make standard the practice of insurance, particularly against</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Fire" title="Fire"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">fire</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">in the form of</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Perpetual_Insurance" title="Perpetual Insurance"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">perpetual
insurance</span></a>. In 1752, he founded the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Philadelphia_Contributionship_for_the_Insurance_of_Houses_from_Loss_by_Fire" title="Philadelphia Contributionship for the Insurance of Houses from Loss by Fire"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Philadelphia Contributionship
for the Insurance of Houses from Loss by Fire</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-NAIC-19"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[19]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Franklin's company was the
first to make contributions toward fire prevention. Not only did his company
warn against certain</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Fire_hazards" title="Fire hazards"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">fire hazards</span></a>, it
refused to insure certain buildings where the risk of fire was too great, such
as all wooden houses.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In the United States,</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Regulation" title="Regulation"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">regulation</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">of the insurance industry
primary resides with individual</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/US_state" title="US state"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">state</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">insurance departments. The
current state insurance regulatory framework has its roots in the 19th century,
when</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/New_Hampshire" title="New Hampshire"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">New Hampshire</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">appointed the first
insurance commissioner in 1851.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-NAIC-19"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[19]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Congress adopted the
McCarran-Ferguson Act in 1945, which declared that states should regulate the
business of insurance and to affirm that the continued regulation of the
insurance industry by the states is in the public's best interest.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-NAIC-19"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[19]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The Financial Modernization
Act of 1999, commonly referred to as "<a href="http://en.wikipedia.org/wiki/Gramm-Leach-Bliley" title="Gramm-Leach-Bliley"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Gramm-Leach-Bliley</span></a>",
established a comprehensive framework to authorize affiliations between banks,
securities firms, and insurers, and once again acknowledged that states should
regulate insurance.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-NAIC-19"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[19]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Whereas insurance markets
have become centralized nationally and internationally, state insurance
commissioners operate individually, though at times in concert through the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/National_Association_of_Insurance_Commissioners" title="National Association of Insurance Commissioners"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">National Association of Insurance Commissioners</span></a>.
In recent years, some have called for a dual state and federal regulatory
system (commonly referred to as the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Optional_federal_charter" title="Optional federal charter"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Optional federal charter</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">(OFC)) for insurance
similar to the banking industry.<o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">In 2010, the federal</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Dodd-Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd-Frank Wall Street Reform and Consumer Protection Act"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Dodd-Frank Wall Street Reform
and Consumer Protection Act</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">established the Federal
Insurance Office ("FIO").<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">FIO is part of the U.S.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury" title="United States Department of the Treasury"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Department of the Treasury</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">and it monitors all aspects
of the insurance industry, including identifying issues or gaps in the
regulation of insurers that may contribute to a systemic crisis in the
insurance industry or in the U.S. financial system.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">FIO coordinates and develops
federal policy on prudential aspects of international insurance matters,
including representing the U.S. in the</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/International_Association_of_Insurance_Supervisors" title="International Association of Insurance Supervisors"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">International Association of
Insurance Supervisors</span></a>.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">FIO also assists the U.S.</span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Secretary_of_Treasury" title="Secretary of Treasury"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">Secretary of Treasury</span></a></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">with negotiating (with the
U.S. Trade Representative) certain international agreements.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup><o:p></o:p></span></div>
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<span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">Moreover, FIO monitors
access to affordable insurance by traditionally underserved communities and
consumers, minorities, and low- and moderate-income persons.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The Office also assists the
U.S. Secretary of the Treasury with administering the Terrorism Risk Insurance
Program.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">However, FIO is not a
regulator or supervisor.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup></span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;"> </span><span lang="EN" style="font-family: Arial, sans-serif; font-size: 10pt;">The regulation of insurance
continues to reside with the states.<sup><a href="http://en.wikipedia.org/wiki/Insurance#cite_note-FIO-20"><span style="color: #0b0080; mso-bidi-font-size: 11.0pt;">[20]</span></a></sup><o:p></o:p></span></div>
PrinceFatihhttp://www.blogger.com/profile/15158036075343775455noreply@blogger.com0