Insuring the uninsurable: knowing the cost of NPE lawsuits

Imagine this underwriting scenario: you are asked to provide a quote for an auto policy, but are unable to obtain information about the age, education, work history, and driving record of the person to be insured. You don’t know where his or her car will be garaged and operated, or how many miles it will be driven every year. You also have severely limited (and largely unreliable) historical data on automobile repair costs, medical costs, and auto-related liability lawsuits.