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ICBC should be allowed to price car insurance on the basis of age or gender
Transcript of ICBC should be allowed to price car insurance on the basis of age or gender
Men are 3.4 times more likely than women to get ticket for reckless driving
Men are 3.1 times more likely cited for drunk driving
11,900 male drivers died in U.S traffic accident in 2009 versus only 4900 women
be allowed to price car insurance on the basis of age or gender
Definition of Discrimination
Failing to treat all persons equally are discrimination, but
in auto insurance is based on statistical indicators of potential probability and severity of an accident
Sources: CBS News
Men vs Women
Rawls' Veil of Ignorance
Gain: 1) ICBC save on cost
2) Less reckless/drunk driving
Loss: 1) Male and young drivers pay more
High risk age group
32% 24% 8%
3 main categories why male drivers should have premiums:
Behind a veil of ignorance,
male & young drivers would choose the most fair outcome
If all the auto insurance companies price discriminate,
then social utility will increase by having less accidents
As long as price discrimination is transparent,
then it would be considered fair
Data= male & young drivers cause more accidents
> charge mores
> increase total utility by reducing the
possibility of accidents
Source: Automobile Statistical Plan, General Results, Private passenger vehicle, 2013
Alcohol-Impaired Driving Among Youth
Categorical imperative - Universability
16-25 year olds made up almost 33.4% of the impairment-related traffic deaths
Lack of experience for driving and drinking
Risk takers andless cautious than their older counterparts.
of total population