CAS Exam 6C Spring 2014, Question 7
Study guide: Exam 6C
Part a (0.5 points)
Provide an argument for using credit-based insurance scores according to the "Actuarial Standard of Practice No. 12: Risk Classification".
Part b (0.5 points)
Provide a counter-argument to the answer in part a. above.
Part c (0.5 points)
Briefly describe two guidelines the Insurance Bureau of Canada provides in its code of conduct for insurers' use of credit information.
Part d (0.75 points)
Explain how changes made in 2010 by the Financial Services Commission of Ontario addressed credit-based risk rating in auto insurance.
Answer this question and see the worked solution
Concepts tested
- Credit-Based Insurance Scoring
- Risk Classification Restrictions
- Insurance Bureau of Canada
- Unfair Discrimination