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of the claim In the case of insolvency of an insurer a) the government who pays

ID: 358899 • Letter: O

Question

of the claim In the case of insolvency of an insurer a) the government who pays the insurer's portion 27, ln the case of insolvency b) A state's Guaruntce Association d) stakebolders e.) the FDIC 28. The first and second reasons for insurance regulation is.... Solvency regulation is number two. First comes market regulation with rate b. Solvency regulation is number three. First comes guarantee funds, second co c. Solvency regulation is number one. Next comes market regulation with rate d. Guarantee funds are one. Solvency regulation is number two. First comes m regulation with rate and form regulation regulation regulation with rate and form regulation insurers are those formed in another state. 29, a. Guest b. Neighbor e. Alien d. Foreign e. Family 30. Under rate regulation, an insurer has to wait to use a new rate until the b open competition d. closed-competition 31. In terms of the insurance industry, what is a waiver? b) the implied authority of the agent to fulfill the principal's responsibilitie before a contract is issued that secures (binds) coverage for an insured without any additional inpu c the intentional relinquishment of a known right which ea inser or its agent has led the insured to believe th claim that no

Explanation / Answer

27-a. If any insurance company become insolvent govt pay the claim from state insurance guaranty fund. The fund is specially created for insolvency of insurance company.

28-d- First is the insurance company should follow the market guidelines and forms under which it will operate.Solvency is second because the insurance company will disburse the claims to insurer when it will solvent in the market.

29-d.It is one that formed under the laws of any state, other than the operating state.

30-a. In prior-approval rate regulation the insurance company is required to take permission of the regulator before using new rate.

31-c. It is a voluntary surrender of rights.

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