Who must approve rate changes for non-competitive types of insurance?

• A. The Insurance Agent
• B. The Policyholder
• C. The Attorney General
• D. The Commissioner

Answer: (D)

Rate changes for non-competitive lines are regulated by the state, with the Insurance Commissioner having the authority to approve or disapprove them. This ensures rates are not excessive, inadequate, or unfairly discriminatory. An insurance agent cannot approve rates, a policyholder doesn’t have that authority, and the Attorney General isn’t the rate-approval body. In Maryland, proposed rate changes must be filed with and approved by the Commissioner before they can go into effect.