CAS Exam 6C Fall 2015, Question 3
Study guide: Exam 6C
In September 2013, the Financial Services Commission of Ontario (FSCO) published a Usage-Based Insurance Pricing (UBIP) bulletin that outlines additional considerations and requirements for automobile insurance filings that contain a UBIP component.
Part a (1 point)
Identify four elements of the bulletin that demonstrate FSCO's emphasis on transparency to the consumer.
Part b (1 point)
Describe two ways the bulletin promotes a competitive Usage-Based Insurance marketplace.
Answer this question and see the worked solution
Concepts tested
- Usage-Based Insurance
- Rate Regulation
- Market Conduct Regulation
- Rating Variable
- Financial Services Regulatory Authority of Ontario