Cover Story
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Regulators Look for a Clue
Cover Story • April 4, 2005
Was it Colonel ChoicePoint in the Conservatory With a Knife?
When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 ...
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| Subject | Posted By | Posted On |
|---|---|---|
| CLUE | Jerry | Jan 23, 2008, 1:01 pm |
| CLUE | Rod Guilmette | May 6, 2005, 11:11 am |
| Back to article | ||
Subject: CLUE
The policy premium is predicated, in part, on probable loss, including the deductible.
The policyholder pays the premium for "self-insuring" for the first $250 to $1000 (or more)of loss (the deductible)and for anything not covered by the policy.
The policyholder should not be punished for something the insurance company is not on the hook for.
However, an insured loss above the deductible, which the policyholder opts to pay themselves, should be reportable.