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1Fair premium HandbooKAUGUST 811, 2019 www.thelakecountyfair.com2Table of Contents WELCOME TO THE 111th EXPOSITION OF THE LAKE COUNTY FAIR! The Lake County Fair is an institution that belongs to the
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The Fair Premium Handbook is a guideline or document that outlines the parameters and standards for establishing fair premium rates in various insurance sectors, ensuring fairness and compliance with regulations.
Insurance companies and entities that are subject to regulatory oversight in relation to premium rates must file the Fair Premium Handbook.
To fill out the Fair Premium Handbook, entities need to provide accurate data regarding their premium calculations, including methodologies used, financial data, and compliance with relevant actuarial standards.
The purpose of the Fair Premium Handbook is to promote transparency, ensure fairness in premium pricing, and assist regulators in reviewing and approving premium rates.
Information that must be reported includes detailed calculations of premium rates, demographic data, claims history, and any actuarial analyses that support the rates.
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