What Does Prior Approval Mean?

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What does Prior Approval mean? Read on to discover the definition & meaning of the term Prior Approval - to help you better understand the language used in insurance policies.

Prior Approval

Prior Approval

Method of rate and form ratification used by some state insurance departments that requires a company to obtain official approval before using new forms or rates.

We hope the you have a better understanding of the meaning of Prior Approval.

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