Problem
a. If a pay-as-you-drive insurance program is being implemented to cope with automobile related externalities associated with driving, what factors should be considered in setting the premium?
b. Would you expect a private insurance company to take all these factors into account? Why or why not?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.