The regulator's objective with respect to insurance rates is to ensure that rates are:

Question

Quizplus · Accepted Answer

The regulator's objective with respect to insurance rates is to ensure that rates are fair, adequate and not unfairly discriminatory. This means that the rates charged to policyholders should be based on reasonable and objective criteria, and should not unfairly discriminate against certain groups of people. The rates should also be adequate to cover the insurer's expected costs and should not be excessive or unreasonable. While affordability is important, it is not the primary objective of rate regulation.

The Regulator's Objective with Respect to Insurance Rates Is to Ensure