What is the Definition of File-And-Use States?

What is the Definition of File-And-Use States?

States where insurers must file rate changes with their regulators, but  don’t have to wait for approval to put them into effect.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of File-And-Use States?

What is the Definition of File-And-Use States?

You can find random definition and meaning of insurance terms below:


Meaning of Qualified Annuity in Insurance Terms

A form of annuity purchased with pretax dollars as part of a retirement plan that benefits from special tax treatment, such as a 401(k) plan.


Meaning of R Rate in Insurance Terms

The cost of a unit of insurance, usually per $1,000. Rates are based on historical loss experience for similar risks and may be regulated by state insurance offices.


Meaning of Rate Regulation in Insurance Terms

The process by which states monitor insurance companies’ rate changes, done either through prior approval or open competition models. (See Open competition states; Prior approval states)


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