e.) the FDIC 28. The first and second reasons for insurance regulation is... a S

Question

e.) the FDIC 28. The first and second reasons for insurance regulation is... a Solvency regulation is number two. First comes market regulation with rate and f b. Solvency regulation is number three. First comes guarantee funds c. Solvency d. Guarantee regulation second comes regulation is number one Next comes market regulation with rate and f funds are one. Solvency regulation is number two. First comes market regulation with rate and form regulation regulation with rate and form regulation insurers are those formed in another a Guest d. Foreign e. Family 30. Under rate regulation, an insurer has to wait to use a new rate until the insuran b. open competition property-casualty closed-competition d. e. file-and-use 31. In terms of the insurance industry, what is a waiver? a) the agreement that exists before a contract is issued b) the implied authority of the agent to fulfill the principal's responsibilities; the autho that secures (binds) coverage for an insured without any additional input from the i d) situations when the insurer or its agent has led the insured to believe that coverage c) the intentional relinquishment of a known right which can mean that the insurer cannot later claim that no coverage existed

Explanation / Answer

28-d- First is the insurance company should follow the market guidelines and forms under which it will operate.Solvency is second because the insurance company will disburse the claims to insurer when it will solvent in the market.

29-d.It is one that formed under the laws of any state, other than the operating state.

30-a. In prior-approval rate regulation the insurance company is required to take permission of the regulator before using new rate.

31-c. It is a voluntary surrender of rights.

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