Chapter 5 Flashcards
0
Q
State regulations cover
A
Formation and licensing of insurers
Supervision of insurer operations
Rehabilitation and liquidation of insurers
1
Q
Government methods of regulation
A
Legislative action
Administrative action
Court action
2
Q
State laws affecting insurance rates
A
Prior approval laws
File and use laws
Use and file laws
Flex rating laws
Open competition expense limitation laws
3
Q
Criteria for selecting an insurance company
A
Financial strength
Attitude concerning claims
Lines of coverage offered
Service before and after claims
Underwriting standards
Cost of the coverage.
