What Helps to Confirm the Decline in VMIR Rates Shown

question 3

Essay

What helps to confirm the decline in VMIR rates shown in surveys?

---

Definitions:

Liability Insurance Policies

Insurance policies that provide coverage to the insured against claims resulting from injuries and damage to other people or property.

Tort Liability

Legal responsibility for damages caused by a breach in duty of care in civil law, excluding breaches of contract.

Punitive Damages

Compensation awarded to a plaintiff beyond actual damages, intended to punish the defendant for egregious wrongdoing and deter similar behavior.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover actual losses and harm suffered due to another party's actions or negligence.