Question

What should an insurer consider regarding similar products available in other markets?

a.

Replicating the product entirely

b.

Ignoring their existence

c.

Disclosing the general structure and regulations

d.

Patenting the product design

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Disclosing the general structure and regulations Explanation:An insurer should disclose the general structure of similar products available elsewhere in other markets, including valuation requirements, market conducts, and specific regulations, according to the regulations.

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Q. What should an insurer consider regarding similar products available in other markets?
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