To qualify an insurer for rate discrimination based on gender, what must the insurer provide?

To qualify an insurer for rate discrimination based on gender, the insurer must provide justifiable actuarial data. This requirement stems from the need to demonstrate that any differences in rates based on gender are supported by legitimate statistical analysis and actuarial principles that reflect the risk associated with different genders.

Actuarial data is critical because it provides a foundation for understanding how gender can impact risk factors, such as morbidity and mortality rates, which in turn influences insurance pricing. If an insurer can present solid, justifiable data showing differences in risk that correlate with gender, then it can justify its rating practices in compliance with regulatory standards.

While other choices touch on different aspects of regulatory compliance and insurer operations, they do not fulfill the specific need for robust statistical evidence needed to support gender-based rate discrimination. For example, written consumer complaints may indicate consumer sentiment but do not provide the necessary data for justifying rate differences. Approval from state legislators is about legal endorsement rather than the underlying data required for actuarial justification. A minimum loss experience report may reflect past performance but lacks the statistical foundation to support ongoing rate discrimination based purely on gender.