Word: premiums
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Dates: during 1960-1969
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...lender and borrower but have also devised faster and cheaper ways to operate. While FHA generally takes nearly two weeks to pass on an application for home-loan insurance, M.G.I.C. makes up its mind in 24 hours, charges only about half of FHA's costly ½%-per-year premium on the declining balance of loans...
...years, the average premium has soared 55%. Car owners who take out a standard 50/100/5 liability policy (on which the company will pay up to $50,000 to one injured person, a total of up to $100,000 to all persons injured in one accident, and up to $5,000 for property damage) are also likely to include comprehensive protection (fire, theft, etc.), plus a collision policy requiring them to pay the first $100 in repairs. In Los Angeles five years ago, that package cost $279 a year for a couple with an 18-year-old son, even though...
...ward off that result, more state commissions are holding public rate hearings, denying premium boosts and ordering insurers to specify their reasons for cancellations and nonrenewals. But none of this will lower the price of insurance. As cancellations decrease, the industry will find itself handling more high-risk drivers and paying out more in damages. To reduce their losses, they will be forced to raise premiums still higher...
...billion a year in gasoline taxes is already being spent to build the Interstate Highway System. When the system is finished in 1973, Moynihan would simply raise the gas tax a penny or so a gallon and switch the revenue to insurance, for which motorists would pay no other premium...
...banks were bought up by Reconstruction Finance Corporation examiners who had worked over their books and recognized their long-term potential. Those ex-examiners have now reached retirement age, and are ready to sell out. The Parsons group and its partnerships are attractive buyers, partly because they pay a premium on bank stocks, partly because they make a point of leaving local people in control of the banks they take over-at least at first...