Examlex
Why are international laws typically followed by states?
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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