JY CHEN - Ask Anything, Learn Everything. Logo

In Business / College | 2025-07-03

Robert is trying to set up an individual disability insurance policy and wants to understand how the premiums are regulated. How are premium rates for individual disability insurance policies regulated according to the Insurance Commissioner?

A. The Commissioner sets and fixes the premium rates.
B. The rates are filed with the Commissioner, but not regulated or fixed by them.
C. The Commissioner has no role in the premium rates for individual disability policies.
D. The Commissioner determines the premiums after a notice and hearing.

Asked by summersegovia

Answer (2)

The Insurance Commissioner generally oversees the filing of premium rates for individual disability insurance policies but does not set or regulate these rates directly. Insurers must file rates for approval, but the Commissioner does not have the authority to fix them. This allows for some level of market determination in setting premiums. ;

Answered by GinnyAnswer | 2025-07-03

The Insurance Commissioner oversees the filing of premium rates for individual disability insurance but does not directly regulate or fix these rates. Therefore, the correct option is B: 'The rates are filed with the Commissioner, but not regulated or fixed by them.' This allows insurance companies to determine their own premium rates based on market conditions.
;

Answered by Anonymous | 2025-07-04

Related Questions in Business

[Free] When the yield to maturity of a bond goes up, the price typically: A. is determined by market factors B. goes down C. does not change D. goes up

[Free] A type of life insurance policy that requires premiums only for a specified number of years or to a specific age is called a: A. term life policy B. limited pay policy C. key man insurance policy D. split dollar policy

[Free] Which of the following correctly explains how the concept of demand affects the change in use of credit? Select the two correct answers. A. High interest rates yield low demand for credit. B. Low interest rates yield high demand for credit. C. High interest rates yield high demand for credit. D. Low interest rates yield low demand for credit. E. Both low and high interest rates yield low demand for credit because consumers see it as an indicator that the market is not in equilibrium. Demand is highest when rates are neither too high nor too low.

[Free] A company is researching mining at four different land areas using different types of equipment. The table below shows the costs of land, equipment, mining, and reclamation for the four locations: | Locations | Cost of land | Cost of equipment | Cost of mining and reclamation | Time taken to mine the area | | --------- | ------------ | ----------------- | -------------------------------- | --------------------------- | | 1 | $100,000 | $10,000 | $5,000 per day | 30 days | | 2 | $35,000 | $6,000 | $4,500 per day | 45 days | | 3 | $30,000 | $7,500 | $3,500 per day | 120 days | | 4 | $40,500 | $8,000 | $7,000 per day | 65 days | Considering all costs, which location will cost the least for the company to mine? A. Location 1 B. Location 2 C. Location 3 D. Location 4

[Free] Internal-operational communications are messages that A. are circulated both inside and outside a business B. get an organization's work done C. are sent between competing organizations within the same industry D. employees send to discuss strictly personal matters