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Author Question: Under one type of rating law, insurers are free to change rates and to use modified rates ... (Read 111 times)

sabina

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  • Posts: 563
on: Jul 11, 2018
Under one type of rating law, insurers are free to change rates and to use modified rates immediately. However, the new rate must be filed with regulators within a specified period, such as 60 days after the modified rate is employed.
 
  This type of rating law is called
  A) prior approval.
  B) file-and-use.
  C) use-and-file.
  D) flex rating.

Question 2

Mutual Property Insurance Company has a surplus of 2 million. According to a conservative rule, how much in new net premiums can Mutual Property Insurance Company safely write?
 
  A) 2 million
  B) 8 million
  C) 10 million
  D) 20 million


Sassygurl126

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: A


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