Exam DISC-IA Practice Question 248
Study guide: Exam DISC-IA
A state has adopted the NAIC Property and Casualty Commercial Rate and Policy Form Model Law, and the commissioner has found the commercial auto market not reasonably competitive. An insurer files a new commercial auto endorsement. The 30-day waiting period passes without the commissioner disapproving the filing, extending the period or asking for more information. What is the status of the endorsement?
- A) It is deemed to meet the law's requirements and may be used
- B) It may not be used until the commissioner approves it in writing
- C) It could have been used from the filing date, because commercial forms are file and use
- D) It must be refiled, because a filing not acted on within the period lapses
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