One Reason for the Recent Decline in the Expense Ratio

question 22

True/False

One reason for the recent decline in the expense ratio for PC insurers is an increase dependence on independent brokers to sell and distribute insurance policies.

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Definitions:

Federal Law

The body of law created by the federal government of a country, encompassing statutes, regulations, and case law.

Medical Insurance Protection

Coverage offered by insurance policies to help cover the cost of medical and surgical expenses of the insured individual.

Administrative Fee

A charge associated with the management or processing of a service, often added to the cost of transactions or services.

Employment-At-Will Doctrine

A legal rule that an employment relationship can be terminated by either the employer or the employee at any time, for any reason or for no reason at all, unless otherwise legally restricted.