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Colliding Interests – Age as an Automobile Insurance Rating Variable: Equitable Rate-Making or Unfair Discrimination?

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Author Info

  • Robert Brown
  • Darren Charters
  • Sally Gunz

    ()

  • Neil Haddow
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    Abstract

    Many private business relationships are increasingly characterized by claims that certain actions should not be permitted since particular right claims are involved. Such claims should be taken seriously, but are they always ethically legitimate? This paper analyzes one context, the use of age as a rating variable in the pricing of automobile insurance, where such claims are made. By identifying, evaluating and assessing the relevant basis for the differentiation, actuarial equity, it is concluded that there is an ethical basis for such a practice. The analysis also provides an equivalent means for considering other such analogous claims where actuarial equity is involved. Copyright Springer Science+Business Media, Inc. 2007

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    File URL: http://hdl.handle.net/10.1007/s10551-006-9160-z
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Business Ethics.

    Volume (Year): 72 (2007)
    Issue (Month): 2 (May)
    Pages: 103-114

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    Handle: RePEc:kap:jbuset:v:72:y:2007:i:2:p:103-114

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    Web page: http://www.springerlink.com/link.asp?id=100281

    Related research

    Keywords: actuarial equity; age as an insurance rating variable; age discrimination; risk classification;

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    1. Giavazzi, Francesco & Spaventa, Luigi, 1990. "The `New' EMS," CEPR Discussion Papers 369, C.E.P.R. Discussion Papers.
      • Francesco Giavazzi & Luigi Spaventa, 1990. "The "New" EMS," Working Papers 86, Dipartimento Scienze Economiche, Universita' di Bologna.
    2. M. Shannon & D. Grierson, 2004. "Mandatory retirement and older worker employment," Canadian Journal of Economics, Canadian Economics Association, vol. 37(3), pages 528-551, August.
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