Insurance Rate Regulation
/ɪnˈʃʊərəns reɪt ˌrɛɡjʊˈleɪʃən/
Definitions
- (n.) The body of laws and regulations governing the rates insurers may charge policyholders to ensure rates are fair, adequate, and not discriminatory.
The state's insurance rate regulation mandates approval of premium increases before they can take effect.
Forms
- insurance rate regulation
- insurance rate regulations
Related terms
See also
Commentary
Insurance rate regulation balances insurer solvency with consumer protection, often requiring regulatory approval of proposed rates.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.