Question

What regulation governs insurance premiums?

a.

Rates can fluctuate over time

b.

Premiums must remain fixed once established

c.

Premiums can only change for certain policies

d.

There are no regulations regarding insurance premiums

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Premiums must remain fixed once established Explanation:Once fixed, insurance premiums cannot change over time to keep the policy in force.

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Q. What regulation governs insurance premiums?
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