Drivers: Don’t allow insurance companies to use speed camera data. We don’t want bad drivers to pay more.
Also drivers: Insurance premiums are too expenvie. Do something.
Governor: 🙆
Drivers: Don’t allow insurance companies to use speed camera data. We don’t want bad drivers to pay more.
Also drivers: Insurance premiums are too expenvie. Do something.
Governor: 🙆
Because an insurance is nothing more than a glorified bet. “I bet you that this year you won’t crash your car. If I lose I pay you X. But next bet will be more expensive for you if I lose”
For the insured individual its a bet. Not for the insurer.
By pooling a bunch of bets the insurer isn’t gambling any more. They know (more or less), how much they’ll have to pay out. Then can charge accordingly to know it’ll work out.