Discrimination in Insurance Underwriting Guidelines

Race-based premiums, algorithms, and other practices target protected classes. The insurance industry uses underwriting guidelines to determine who they will insure and at what rate. Insurance deals in risk, so insurance companies create these guidelines to determine the circumstances under which they will assume that risk—and when they won’t because someone is too …

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Should America Pay Slavery Reparations?

What Are Slavery Reparations? Slavery reparations are restitution payments for slavery remitted to the descendants of enslaved people. In theory, American slavery reparations would be paid by entities that participated in slavery, such as the federal government, local governments, corporations, and universities. The history is complicated, but the overall principle …

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Mutual vs. Stock Insurance Companies

Mutual vs. Stock Insurance Companies: An Overview Insurance companies are classified as either stock or mutual depending on the ownership structure of the organization. There are also some exceptions, such as Blue Cross/Blue Shield and fraternal groups which have yet a different structure. Still, stock and mutual companies are by …

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The History of Insurance in America

Insurance is such a presence in our everyday lives that it’s hard to imagine living without it. But throughout much of the colonial period, that’s just what Americans did. Insurance arrived on the American landscape at about the same time as the idea of a single nation—the United States—began to …

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