How does a flex rating law work?

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How does a flex rating law work?

A. Insurers may adjust rates within a range without prior approval.
B.Insurers may change rates without prior approval, but they are subject to regulatory review.
C. Insurers may adjust rates within a range with prior approval.
D.Insurers may adjust rates at will, but are required to file a rate schedule.

Answer: A. Flex rating laws permit insurers to adjust rates within a range without prior approval.

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The voluntary relinquishment of a legal right is called
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