Actuarial equity versus social equity

On page 9.18 – 9.19 of your textbook, there is a discussion about Actuarial Equity versus Social Equity related to the development of insurance rates. Read this discussion in the text and then the article: New Gene Tests Pose a Threat to Insurers under Topic 9.

a. Does genetic testing conform to or violate the concept of social equity in insurance pricing? Explain your answer carefully. Using the article and examples from the article, carefully discuss the two equity issues related to the development of insurance rates.

b. Explain how the role of asymmetric information is different in the context of genetic testing than it is the context of determining health behaviors, e.g., tobacco use.

c. This question is related to the risk of breast cancer only. The tests for the breast cancer gene are BRCA1 and BRCA2. If a woman does not get tested for the breast cancer gene, can she adversely select into a better risk pool with respect to her risk of breast cancer?

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