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A comment on Want to be an actuary? Odds are, you’ll fail the test. Parent comment

Re:Want to be an actuary? Odds are, you’ll fail the test by whatshisface on Wednesday December 29, 2021 @03:52PM (#29729869)
>The more times you cause damage, and the higher the damages, the higher your rates go over time.

But by how much? If it's enough to fully offset the cost of the damage, that's not insurance, but a payment plan. If it's less than the cost of the damage, then you have to decide what it's going to be.

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Re:Want to be an actuary? Odds are, you’ll fail the test by jjnoakes on Wednesday December 29, 2021 @05:38PM (#29731037)
Again, I'm not going to come up with an exact formula. The point stands without one.

You can calculate using any history you like. Weigh past damages based on time between, or time in the past. Be creative.

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