An insurance rate
A)is the price charged for each unit of insurance coverage.
B)should be sufficient to provide coverage for that applicant.
C)represents the average cost of providing coverage to various groups of insureds.
D)All of these.

Question

Quizplus · Accepted Answer

An insurance rate is the price charged for each unit of insurance coverage, and it should be sufficient to provide coverage for that applicant. Additionally, it represents the average cost of providing coverage to various groups of insureds. Thus, all of the given options are correct.

An Insurance Rate