Where can I find a description about the 2 main regulatory approval types?

user10_Exam6Cuser10_Exam6C
in FSCO.PPA

Hello, where can I find info regarding the 2 main types of reg approval?
1) prior approval (PPA)
2) File & use

Just don't quite understand what these mean, would like to go back to the source to figure it out. Thanks!

Comments

  • chrisboersmachrisboersma

    KPMG.RegOv

  • user10_Exam6Cuser10_Exam6C

    Thanks chris, do you have a link to this article? I can't seem to find it...also I don't think its in the CAS references for this exam is it?

  • user10_Exam6Cuser10_Exam6C

    Is the idea that for PPA and FA (prior approval is required) whereas for NON-PPA & commercial auto it is either ( file & use OR prior approval)?

  • chrisboersmachrisboersma

    KPMG, “Research Report – Best Practices for Actuarial Involvement in the Regulatory Oversight of Property and Casualty Insurance Rates,” December 2012, pp. 21-31.

    Review the syllabus. Please buy the study kit (you need it!).

    It's also a section in this site just CTRL-F "KMPG.RegOv" (you'll see the forum section below)

    I'd share the paper, but the copyrights prevent distribution. So it must be purchased from the CAS.

    I don't believe either major/minor regulations address commercial auto in the context of this exam (out of scope).

  • javidjavid

    Hi @ferassamain. As mentioned by @chrisboersma, it can be found in the study guide. That said, I'd point you to https://www.casact.org/admissions/studytools/exam6c/f16-6C.pdf, specifically question 4 and its solution.

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