State laws often require that insurance rates not be excessive, but say nothing about being high enough to fairly cover all costs.

Name: State laws often require that insurance rates not be excessive, but say nothing about being high enough to fairly cover all costs.
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State laws typically require that insurance rates be not only not excessive but also adequate to cover all anticipated costs, ensuring that insurers have enough funds to pay out claims.

State Laws Often Require That Insurance Rates Not Be Excessive