Under What Type of Rate Regulation Are Insurers Required to Obtain

question 40

Multiple Choice

Under what type of rate regulation are insurers required to obtain approval of rates before using them if the rate change exceeds a specified predetermined range?

• A)flex-rating law
• B)prior-approval law
• C)file-and-use law
• D)use-and-file law

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Definitions:

Global Reporting Initiative

An international organization that helps businesses and governments understand and communicate their impact on issues such as climate change, human rights, and corruption.

Environmental Laws

Statutes and regulations aimed at protecting the environment from harm caused by human activities, covering areas such as air and water pollution, waste management, and conservation.

Organisational Transparency

The extent to which an organization openly shares its operations, decisions, and business practices to its stakeholders.

Environmental Management Systems

A framework that helps organizations manage their environmental responsibilities and impacts in a systematic and sustainable manner.