Under one type of rating law, insurers are free to change rates and to
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.
ANSWER
Answer: C
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