Question

Lines of Insurance that require rates to be filed and approved by the state before they can be used would be:

A. Judgment Rating
B. Prior Approval
C. File and Use
D. Mandatory

Answer 1

The correct answer is option b. Prior Approval lines of insurance require rates to be filed and approved by the state before they can be used.

Step-by-step explanation:

The lines of insurance that require rates to be filed and approved by the state before they can be used are called Prior Approval lines of insurance.

In this type of insurance, the insurance company must submit the rates to the state regulators for review and approval before they can be implemented.

This ensures that the rates are fair, reasonable, and comply with the regulations set by the state.