Jeong, Himchan; Gan, Guojun; Valdez, Emiliano - In: Risks : open access journal 6 (2018) 3, pp. 1-18
For automobile insurance, it has long been implied that when a policyholder made at least one claim in the prior year, the subsequent premium is likely to increase. When this happens, the policyholder may seek to switch to another insurance company to possibly avoid paying for a higher premium....