What is the Definition of Rate Regulation?

What is the Definition of Rate Regulation?

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)

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 Rate Regulation?

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


What is the meaning of Exclusion

A provision in an insurance policy that excludes and/or limits certain coverages.


What is the meaning of FR-44/SR-22

A legal document filed if you are convicted of certain traffic violations or driving under the influence of alcohol or drugs. The state may require you to file an FR-44/SR-22 to verify that you maintain auto liability coverage. Both forms are official documents showing proof of financial responsibility, but use different titles based on your state of residence. If an FR-44/SR-22 should expire or be canceled, an insurance company will issue an FR-46/SR-26 form, which certifies the cancellation of the policy.


What is the meaning of Garaging location

The address where a vehicle is usually parked or garaged, which could differ from the policyholder's primary residence or policy mailing address.  Students attending school 100+ miles from home with a vehicle should use their school address as their garaging address.


Thank you for visiting our website and read this FAQ article about "What is the Definition of Rate Regulation?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter