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Originally Posted by Indy Coug
I'm curious if this kind of insurance is actually priced by actuaries. It's certainly outside the realm of traditional actuarial work. But whoever was behind it screwed up royally.
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Those guys and girls should be outed. Who made these notorious pricing decisions? However, if Levin's description is accurate, what we are witnessing is further fallout from the real estate crisis sweeping the country.