General Insurance PrinciplesCâu 194 / 474
Under the McCarran-Ferguson Act, regulation of the business of insurance is:
a.shared equally between Congress and the courts of each state
b.assigned to a federal insurance agency that licenses insurers
c.handled by the industry itself through a national trade body
d.left mainly to the states, as Congress intended
Giải thích
Congress declared that continued regulation by the states is in the public interest and that federal antitrust law applies to insurance only to the extent the business is not regulated by state law. There is no federal agency licensing insurers under the act, so that answer describes something that does not exist. Trade associations may draft model wording, but they do not regulate anyone.
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Câu hỏi liên quan cùng chủ đề
- In the jurisdiction where a policy is being written, an admitted insurer is one that:
- The surplus lines market exists so that a risk can be:
- A primary insurer must cede, and the reinsurer must accept, every risk falling in a defined class. This arrangement is:
- Producers who are salaried or commissioned employees of one insurer, and who do not own the renewal rights to their accounts, belong to the:
- A filed rate must be adequate, not excessive and not unfairly discriminatory. The rate itself is built from the expected loss cost plus:
- A producer offers to pay a client's first month of premium out of her own commission if the client signs today. This practice is:
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