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Why Are International Laws Typically Followed by States

question 53

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Why are international laws typically followed by states?


Definitions:

Car Insurance Mandatory

A legal requirement in many jurisdictions for vehicle owners to purchase an insurance policy that covers liabilities for injuries or damages to others in an accident.

High-Risk Drivers

Individuals identified by insurance companies as more likely to be involved in accidents or commit traffic violations, often resulting in higher insurance premiums.

Low-Risk Drivers

Individuals who are considered to pose a lower than average risk of being involved in car accidents or filing insurance claims, often resulting in lower insurance premiums.

Adverse Selection

A scenario where one party in a transaction has more or better information than the other, often leading to a poor market outcome.

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