Thanks, a useful read, and allays my suspicions that they all used random number generators!I was reading this over the weekend from Chill and I thought it was fascinating. Why, for example, is insurance for a medical secretary 2% more expensive the for an ordinary secretary?. What on earth are they doing in Longford to make insurance so expensive there?
That's a fallacious inference from the average premium data on which the article is based.Why, for example, is insurance for a medical secretary 2% more expensive the for an ordinary secretary?
I know lots of hospital medical secretarys, none did unsocial hours. They were Mon to Friday.Limerick, Louth and Longford are areas in the news in recent history as having problems with feuding gangs, crime and violent disorder.
Medical secretaries may work unsocial hours or suffer more stress than ordinary secretaries, this might explain why they are a slightly higher insurance risk.
They don't assess the risks associated with the jobs themselves, that's not how the actuaries work. It's all based on the data available to them. They review the claim rates and costs from others with that job title and if they find medical secretaries on average are responsible for 10% higher payouts than other secretaries, that will be factored into the calculations.I'd agree a secretary working in an area like child protection may have to type distressing letters.
Indeed occupation and car type are really proxy for the type of driver you are. By EU law they can no longer discriminate on the basis of sex directly but if you have a very male occupation (like construction) or a female one (like healthcare) then it will be reflected in the price indirectly.Its got nothing to do with the cars and everyting to do with the drivers. If Polos are involved in more accidents, the premium for Polo drivers is higher.
Thanks for clarifying. I've often wondered what to call myself from the drop downs. Think I'll go with administrative staff next time.They don't assess the risks associated with the jobs themselves, that's not how the actuaries work. It's all based on the data available to them. They review the claim rates and costs from others with that job title and if they find medical secretaries on average are responsible for 10% higher payouts than other secretaries, that will be factored into the calculations.
On address, live in an estate with a serial claimer or two, you will pay more than the estate next door where claim rates are lower.
Similar with the VW Polo Vs a Passat or A4, the value of the car is not the sum the insurers are concerned about when third party and injuries are generally greater costs. Polos will be penalised if they are involved in greater claims payouts for the insurers. It's why new cars can have surprisingly lower premiums, people driving a new car are usually a little more careful.
I suspect it's safety features.Seems odd that a VW Polo is more expensive to insure than a Passat or an Audi A4, with the latter being more expensive cars with typically much larger engine sizes.
It's the other way round.I suspect it's safety features.
I've a Volvo (yep, over 50) and it was about 25% cheaper than similar size cars from other marques.
LOL you think they're going to send you details of their model? Dream on!If you really want to trip the mental circuit-breaker of a so-called insurance underwriter ask them to explain and justify their underwriting decision.
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